Asia United Bank vs First Metro Investment: Home Loan Overview
Choosing between Asia United Bank (AUB) and First Metro Investment Corporation (FMIC) for a home loan — or refinance — requires understanding what each institution actually specializes in. AUB is a commercial bank that offers a broad range of retail banking products including home loans, while First Metro Investment is primarily Metrobank's investment banking arm. FMIC's home loan offerings are closely tied to the Metrobank Group's mortgage infrastructure, which gives it access to competitive rates and a well-developed loan processing pipeline.
Neither bank publicly advertises home loan rates as aggressively as the major retail banks like BDO or BPI, which means borrowers often need to inquire directly or work with a broker to get accurate quotes. This is exactly where Nook adds value — by sourcing real, live rates from multiple lenders simultaneously, so you're not left guessing.
Interest Rate Comparison
| Feature | Asia United Bank | First Metro Investment | Nook Best Rate |
|---|---|---|---|
| Indicative Starting Rate | ~7.50% p.a. | ~7.25% p.a. | 5.99% p.a. |
| Fixed Rate Period Options | 1, 2, 3, 5 years | 1, 3, 5 years (via Metrobank Group) | Multiple options |
| Rate Type After Fixed Period | Repriced to prevailing rate | Repriced to prevailing rate | Varies by lender |
| Variable Rate Option | Available | Limited | Available |
The difference between a 7.50% rate and Nook's best available 5.99% p.a. is more impactful than it might appear. On a 3,000,000 peso loan over 20 years, moving from 7.50% to 5.99% reduces your monthly payment from approximately 24,168 to approximately 21,488 — a saving of around 2,680 per month, or 32,160 per year.
Sample Monthly Payment Comparison
Below is a side-by-side illustration of estimated monthly amortizations based on indicative rates for a 20-year loan term:
| Loan Amount | AUB (~7.50%) | FMIC (~7.25%) | Nook 5.99% | Monthly Savings vs AUB |
|---|---|---|---|---|
| 1,500,000 | 12,084 | 11,862 | 10,744 | 1,340 |
| 3,000,000 | 24,168 | 23,724 | 21,488 | 2,680 |
| 5,000,000 | 40,280 | 39,540 | 35,813 | 4,467 |
| 8,000,000 | 64,448 | 63,264 | 57,301 | 7,147 |
These figures are illustrative estimates. Actual rates depend on your credit profile, loan-to-value ratio, property type, and the lender's current offerings at time of application. Nook will show you actual quotes from multiple banks, including lenders not listed here.
Loan Features & Eligibility
| Feature | Asia United Bank | First Metro Investment |
|---|---|---|
| Minimum Loan Amount | ~500,000 | ~1,000,000 |
| Maximum Loan Amount | Up to 80% of appraised value | Up to 80% of appraised value |
| Loan Term | Up to 20 years | Up to 20 years |
| Eligible Borrowers | Filipino citizens, resident aliens | Filipino citizens, resident aliens |
| OFW Borrowers | Accepted with conditions | Limited availability |
| Self-Employed Borrowers | Accepted | Accepted with higher documentation |
| Property Types | House & lot, condo, townhouse | House & lot, condo, commercial |
Fees & Charges
Both banks charge standard industry fees, though the specific amounts vary and should be confirmed directly or through Nook during the application process.
| Fee Type | Asia United Bank | First Metro Investment |
|---|---|---|
| Processing Fee | 5,000 – 10,000 (estimated) | 5,000 – 10,000 (estimated) |
| Appraisal Fee | Charged separately | Charged separately |
| Documentary Stamp Tax | Borrower's account | Borrower's account |
| Early Repayment Penalty | Typically applies within fixed period | Typically applies within fixed period |
| Annual Service Fee | May apply | May apply |
When comparing total cost of a home loan, always factor in these fees alongside the headline interest rate. A slightly lower rate can be offset by higher fees — and vice versa. Nook helps you compare the true all-in cost across lenders, not just the advertised rate.
Application Process
Asia United Bank processes home loan applications through its branch network and online channels. AUB has positioned itself as a digitally forward bank, so borrowers can expect a relatively streamlined documentary process compared to older institutions. Turnaround times for approval typically range from 2 to 4 weeks depending on document completeness and property appraisal scheduling.
First Metro Investment, operating under the Metrobank Group umbrella, processes home loans with the backing of Metrobank's established mortgage operations. This gives FMIC access to experienced loan processors and a robust appraisal network. However, as an investment bank, its retail home loan pipeline may be less mature than a dedicated commercial lender, and processing timelines can vary.
By contrast, applying through Nook means submitting a single application that is matched across multiple lenders simultaneously. This saves significant time and gives you competing offers to choose from — without any cost to you.
Is Refinancing Worth It?
If you currently have a home loan with Asia United Bank or First Metro Investment — or any Philippine bank — at a rate of 7% or higher, refinancing could deliver substantial long-term savings. The break-even point for refinancing (covering fees like processing, appraisal, and documentary stamp tax) is typically reached within 12 to 24 months given the rate differential available today.
For example, a borrower with 4,000,000 outstanding balance at 8.00% p.a. with 18 years remaining pays approximately 34,140 per month. Refinancing to 5.99% p.a. would bring that down to approximately 30,250 — a monthly saving of 3,890, or 46,680 annually. Even after one-time refinancing costs estimated at around 50,000 to 80,000, the borrower recovers costs within 13 to 21 months and saves over 700,000 across the remaining loan term.
Curious how other lenders compare in this space? You might also find it useful to read our GoTyme vs SB Finance home loan comparison for perspective on how newer digital lenders are pricing against traditional institutions.
Who Should Choose Asia United Bank?
- Borrowers who already have an existing banking relationship with AUB and prefer to consolidate
- Those who value digital-first banking experiences and faster online processing
- Borrowers purchasing properties in areas well-covered by AUB's appraisal network
- Self-employed individuals who find AUB's documentation requirements more accommodating
Who Should Choose First Metro Investment?
- Borrowers connected to the Metrobank Group who may benefit from relationship pricing
- Those purchasing higher-value or commercial-adjacent properties
- Borrowers who prefer the stability and backing of a large banking conglomerate
- Investors financing mixed-use or income-generating properties
The Nook Advantage
Rather than picking between two lenders and hoping you chose correctly, Nook lets you compare live home loan and refinance offers from across the Philippine banking market — including BDO, BPI, Metrobank, Security Bank, RCBC, UnionBank, Chinabank, EastWest Bank, PSBank, and more. The current best refinance rate available through Nook is 5.99% p.a., which is meaningfully lower than what most Filipinos are currently paying.
Nook's service is 100% free to borrowers. Nook earns a referral fee from the bank — only if your loan is successfully approved and disbursed. There's no obligation, no hard sell, and no cost to finding out how much you could save.
If you're exploring all your options before deciding, our Bank of Commerce vs GoTyme comparison is another useful read to understand the full spectrum of lenders in the Philippine market today.
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Compare My Options →Frequently Asked Questions
What is the current home loan rate at Asia United Bank?
Asia United Bank does not publicly list real-time home loan rates on its website. Indicative rates typically start around 7.50% p.a. for a 1-year fixed period, but the actual rate offered will depend on your credit profile, loan amount, property type, and prevailing market conditions at the time of application. We recommend using Nook to get a live, personalised quote from AUB and multiple other lenders simultaneously — at no cost to you.
Does First Metro Investment offer home loans directly to borrowers?
First Metro Investment Corporation (FMIC) is primarily Metrobank's investment banking arm, but it does offer home loan products, often leveraging the Metrobank Group's mortgage infrastructure. Borrowers may find it more straightforward to apply directly through Metrobank branches or through a broker like Nook, which can source competing offers from the broader Metrobank network alongside other Philippine banks.
Which is better for refinancing — Asia United Bank or First Metro Investment?
Both banks offer refinancing, but neither is likely to offer the most competitive rate in today's market on its own. The best approach is to compare both — along with the full range of Philippine lenders — through Nook. The best refinance rate currently available through Nook is 5.99% p.a., which is lower than the indicative rates from both AUB and FMIC. Nook's comparison service is completely free to borrowers.
How much can I save by refinancing from 7.50% to 5.99%?
The savings depend on your outstanding loan balance and remaining term. As a guide, on a 3,000,000 peso loan with 20 years remaining, refinancing from 7.50% to 5.99% p.a. reduces your monthly payment from approximately 24,168 to approximately 21,488 — a saving of around 2,680 per month, or over 32,000 per year. Over the life of the loan, total interest savings could exceed 640,000 pesos.
What documents are required to apply for a home loan with AUB or FMIC?
Standard home loan documentation in the Philippines typically includes: a completed application form, government-issued ID, proof of income (payslips or ITR for employed borrowers; audited financial statements for self-employed), proof of billing, and property documents including TCT/CCT, tax declaration, and lot plan. First Metro Investment may require additional documentation for higher loan amounts. Nook can guide you through exactly what each lender needs as part of your free application.
Can OFWs apply for a home loan with Asia United Bank or First Metro Investment?
Asia United Bank accepts OFW borrowers subject to additional documentation and conditions, including proof of overseas employment and a local co-borrower in some cases. First Metro Investment has more limited OFW home loan availability. OFWs looking to secure the best home loan or refinance rate should consider applying through Nook, which can match OFW borrowers with lenders that specifically cater to their situation, including banks with dedicated OFW mortgage programs.
How long does home loan approval take at AUB and First Metro Investment?
Asia United Bank typically processes home loan applications within 2 to 4 weeks from submission of complete documents, with its digital infrastructure helping to streamline the process. First Metro Investment's timeline is similar, though it may vary depending on property appraisal scheduling and document completeness. Applying through Nook can help avoid delays by ensuring your documents are in order before submission, and by tracking your application across lenders on your behalf.
Is Nook's home loan comparison service really free?
Yes — Nook's service is 100% free to borrowers. Nook earns a referral fee from the bank only when your loan is successfully approved and disbursed. There are no application fees, no advisory charges, and no obligation to proceed after receiving your quotes. You can compare live rates from multiple Philippine banks without paying anything.