Good day. I have a question regarding refinancing. Say I get an initial mortgage for a house that is appraised at 300,000. I then decide to refinance say, after 5 years. If the home value after the initial 5 years increases to 400,000, does that mean the loan I get with refinancing is for the 400,000 instead of the 300,000 initial mortgage? Would that then mean that payments could potentially be higher even if the rates are lower? Or do I get the 100,000 as equity, and refinane the mortgage based on the original 300k mortgage? Thanks so much! Hope this question isn’t too confusing.