AUB vs First Metro Investment: Home Loan Overview
Asia United Bank (AUB) is a full-service commercial bank with a dedicated home loan product aimed at employed and self-employed Filipinos. First Metro Investment Corporation (FMIC) is the investment banking arm of Metrobank Group and offers home financing primarily through its affiliation with Metrobank's mortgage products. Understanding which institution actually services your loan — and under what terms — is critical before you commit.
Both lenders are regulated by the Bangko Sentral ng Pilipinas (BSP), so borrowers enjoy standard consumer protections. However, their product structures, pricing philosophies, and processing experiences are quite different.
Interest Rate Comparison
| Feature | AUB | First Metro Investment |
|---|---|---|
| Indicative Fixed Rate (1-year) | 7.50% – 8.50% p.a. | 7.75% – 9.00% p.a. |
| Indicative Fixed Rate (3-year) | 7.75% – 8.75% p.a. | 8.00% – 9.25% p.a. |
| Indicative Fixed Rate (5-year) | 8.00% – 9.00% p.a. | 8.25% – 9.50% p.a. |
| Variable Rate (after fixed period) | Repriced to prevailing bank rate | Repriced to prevailing Metrobank rate |
| Best Rate via Nook | 5.99% p.a. | |
These rates are indicative and based on publicly available information. Actual rates depend on your loan amount, tenure, property type, and creditworthiness. Notice how both banks sit well above the 5.99% p.a. rate Nook can currently source for qualified refinancers — a gap that translates into real money every single month.
What the Rate Gap Actually Costs You
Let's say you have an outstanding home loan of 3,000,000 with 20 years remaining. Here's how the monthly repayment compares at different rates:
| Interest Rate | Monthly Repayment | Total Interest Paid (20 years) |
|---|---|---|
| 9.00% p.a. | 26,992 | 3,478,080 |
| 8.00% p.a. | 25,093 | 3,022,320 |
| 7.50% p.a. | 24,168 | 2,800,320 |
| 5.99% p.a. (via Nook) | 21,491 | 2,157,840 |
Refinancing from 9.00% to 5.99% on a 3,000,000 loan saves you approximately 5,520 per month — that's over 66,000 per year, or more than 1,320,000 over the remaining 20-year term. These figures are approximate and for illustration purposes.
Fees and Charges
| Fee Type | AUB | First Metro Investment |
|---|---|---|
| Processing Fee | Typically 5,000 – 10,000 (non-refundable) | Varies; often bundled with Metrobank fees |
| Appraisal Fee | 3,500 – 6,000 depending on property | 3,000 – 6,000 (third-party appraiser) |
| Documentary Stamp Tax | Borrower shoulders (standard) | Borrower shoulders (standard) |
| Mortgage Registration Fee | Borrower shoulders (standard) | Borrower shoulders (standard) |
| Prepayment Penalty | Applicable within fixed-rate period | Applicable within fixed-rate period |
| Late Payment Penalty | Typically 3% – 5% of overdue amount | Typically 3% – 5% of overdue amount |
One important note: when refinancing, you will encounter one-time costs such as a new appraisal, cancellation of old mortgage, and annotation of a new mortgage with the Registry of Deeds. Nook helps you model whether these switching costs are worth it — and in most cases, you break even within 12 to 18 months before enjoying pure savings thereafter.
Loan Terms and Eligibility
| Criteria | AUB | First Metro Investment |
|---|---|---|
| Minimum Loan Amount | 500,000 | 1,000,000 (typical minimum) |
| Maximum Loan Amount | Up to 80% of appraised value | Up to 80% of appraised value |
| Maximum Loan Term | 20 years | 20 years |
| Eligible Borrowers | Filipino citizens, OFWs (with co-borrower), permanently employed or self-employed | Primarily Metrobank Group clients; salaried and select self-employed |
| Minimum Age | 21 years old | 21 years old |
| Maximum Age at Loan Maturity | 65 years old | 65 years old |
| Minimum Monthly Income | Typically 40,000 | Typically 40,000 – 50,000 |
AUB has a slight edge on accessibility, particularly for OFWs and self-employed borrowers. First Metro Investment's home loan products are closely tied to the Metrobank ecosystem, which can mean a smoother experience if you already bank there — but a more complicated one if you don't.
If you're also comparing AUB against other challenger banks, our AUB vs CIMB home loan comparison is worth reading for additional context on how AUB stacks up against digital-first lenders.
Application Process and Turnaround Time
| Step | AUB | First Metro Investment |
|---|---|---|
| Application Channel | Online, branch, or via broker | Primarily branch or referral via Metrobank |
| Pre-approval Turnaround | 3 – 7 banking days | 5 – 10 banking days |
| Full Approval Turnaround | 2 – 4 weeks | 3 – 6 weeks |
| Loan Release | After title transfer and registration | After title transfer and registration |
AUB's digital capabilities give it a modest edge in turnaround speed. First Metro Investment's process tends to be more relationship-driven, which can be an advantage or a bottleneck depending on your situation. For refinancers who want a streamlined experience across multiple lenders simultaneously, Nook submits your application to multiple banks in one go — saving you weeks of back-and-forth.
Refinancing with AUB or First Metro Investment: Key Considerations
If you're currently paying above 7.50% with any lender — whether that's BDO, BPI, Metrobank, Security Bank, or another institution — refinancing to AUB or First Metro Investment may lower your rate. But the more important question is: are you getting the best rate available in the market today?
At 5.99% p.a., the rate Nook can access is significantly lower than what either AUB or First Metro Investment typically advertises. This is because Nook negotiates in volume with multiple partner banks, giving individual borrowers access to wholesale-style pricing that isn't available at the branch counter.
For borrowers comparing other government-backed options alongside these two, our DBP vs UCPB home loan comparison covers two additional lenders worth benchmarking against.
When AUB Makes Sense
- You want a straightforward commercial bank experience with decent digital access
- You are an OFW or self-employed borrower who may struggle to qualify elsewhere
- You want flexible loan terms up to 20 years
- You value branch availability across Luzon, Visayas, and Mindanao
When First Metro Investment Makes Sense
- You are an existing Metrobank Group client and want a seamless, relationship-based experience
- Your loan amount is above 3,000,000 and you prefer a premium-service orientation
- Your financial profile is particularly strong and you expect to negotiate rates directly
When Nook Makes More Sense Than Either
- You want to access multiple lenders with a single application at no cost to you
- You are looking for the lowest possible rate, not just a marginally better one
- You don't have time to visit multiple bank branches and manage multiple document submissions
- You want professional guidance on whether refinancing makes financial sense in your specific situation
Not sure which bank suits you?
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Compare My Options →Frequently Asked Questions
What is the difference between AUB and First Metro Investment home loans?
AUB (Asia United Bank) is a full-service commercial bank that offers home loans directly to individual borrowers, including employed, self-employed, and OFW applicants. First Metro Investment Corporation is the investment banking arm of the Metrobank Group and offers home financing primarily in conjunction with Metrobank's mortgage infrastructure, typically serving clients with existing Metrobank Group relationships. AUB tends to be more accessible to a broader range of borrowers, while First Metro Investment is more relationship-driven and may cater to a more select borrower profile.
Which bank offers lower home loan rates — AUB or First Metro Investment?
Based on publicly available information, AUB's indicative home loan rates are generally slightly lower than First Metro Investment's, particularly for 1-year and 3-year fixed-rate periods. However, actual rates depend on your individual profile, loan amount, and term. More importantly, both banks' rates are currently higher than the 5.99% p.a. rate available through Nook — which sources competitive rates from multiple lenders simultaneously at no cost to you.
Can I refinance my existing home loan with AUB or First Metro Investment?
Yes, both AUB and First Metro Investment accept home loan refinancing applications from borrowers who currently have a mortgage with another bank. You will need to meet their standard eligibility criteria, including minimum income requirements, acceptable property type, and a good credit history. Keep in mind that refinancing involves one-time costs such as appraisal fees, mortgage cancellation, and re-annotation — so it's important to calculate your break-even point before switching. Nook can help you model this for free.
How long does it take to get approved for a home loan with AUB vs First Metro Investment?
AUB typically processes home loan applications within 3 to 7 banking days for pre-approval and 2 to 4 weeks for full approval. First Metro Investment's process tends to be longer, often taking 5 to 10 banking days for pre-approval and 3 to 6 weeks for full approval. These timelines can vary based on document completeness and property-related requirements. Applying through Nook allows you to submit documents once and receive offers from multiple lenders simultaneously, significantly reducing your overall wait time.
What are the minimum and maximum loan amounts for AUB and First Metro Investment?
AUB's minimum home loan amount is typically 500,000, while First Metro Investment generally starts at around 1,000,000. Both lenders typically finance up to 80% of the appraised value of the property. Maximum loan amounts vary based on the borrower's income, debt-to-income ratio, and the appraised value of the collateral property.
Is Nook's mortgage brokering service really free?
Yes, Nook's service is 100% free to the borrower. Nook is compensated by the bank when a loan is successfully funded — similar to how real estate brokers are paid by the seller, not the buyer. You get access to multiple lenders, expert guidance, and the best available rates without paying a single peso in broker fees.
What documents do I need to apply for a home loan refinance?
Whether applying with AUB, First Metro Investment, or through Nook, you will generally need: a valid government-issued ID, proof of income (payslips, ITR, or audited financial statements for self-employed), Certificate of Employment, your existing loan statement of account, a copy of the Transfer Certificate of Title (TCT) or Condominium Certificate of Title (CCT), a recent tax declaration and real property tax receipts, and a photocopy of the existing mortgage contract. Nook will guide you through exactly what each lender requires so you only prepare what's needed.