We have approx. 20,000 equity in our home. We want to borrow 5,000, using a 2nd mortgage. Is this a good idea.

Hard to say. I don't know what your house is worth and what you owe. The simplest way would be to get an equity line but you need a certain amount of available equity to do that. Most banks will not extend 100% credit on a home equity line.

So, in a nutshell... I don't have enough info to give you a really good answer.