If your Bank of Commerce home loan is still on an older fixed rate, you could be overpaying by thousands every month. Nook can help you refinance to as low as 5.99% p.a. — for free.
YOUR POTENTIAL MONTHLY SAVINGS
No commitment. No credit check. Just your numbers.
Why this matters
Bank of Commerce has long offered home loans to Filipino borrowers, but like most Philippine banks, their rates are reset periodically — and many homeowners find themselves locked into rates of 8% or higher after their initial fixed period ends. If you took out your loan several years ago and haven't revisited your terms, there's a strong chance you're paying significantly more than you need to. Current mortgage interest rates in the Philippines have become increasingly competitive, and refinancing is now a straightforward way to take advantage of that.
Refinancing your Bank of Commerce home loan through Nook means we shop your loan across multiple Philippine banks — BDO, BPI, Security Bank, RCBC, Metrobank, and more — to find the lowest rate you qualify for. The best available rate right now is 5.99% p.a. On a 3,000,000-peso loan with 20 years remaining, that difference can translate to over 4,500 pesos back in your pocket every single month. Over the life of your loan, that's real money that stays with your family instead of going to your bank.
Nook's service is completely free for borrowers. We're paid by the bank you ultimately refinance with, so there's no cost to you for getting quotes, comparing options, or submitting your application. There's no obligation either — if the numbers don't make sense for your situation, we'll tell you honestly. Getting started takes less than five minutes, and our team of mortgage specialists will guide you through every step of the process.
How it works
Enter your loan details into our calculator. Instantly see what banks are offering right now and how much you'd save each month. No personal information required.
If the numbers make sense, book a free call. Your consultant compares offers from 15+ banks — something that would take you weeks to do on your own — and recommends the best option for your situation.
We manage the entire application, documentation, and bank coordination. You sign where we tell you. Your new lower payment starts next month. Nook's service is completely free — we're paid by the receiving bank.
Common questions
Yes, absolutely. Refinancing means taking out a new home loan with a different lender to pay off your existing Bank of Commerce loan. There are no restrictions on switching banks in the Philippines, and many homeowners do exactly this when they find a better rate elsewhere. Nook can help you compare offers from multiple banks at once.
It depends on your current rate, remaining balance, and the new rate you qualify for. On a 3,000,000-peso loan at 8.50% refinanced to 5.99%, you'd save roughly 4,500 pesos per month and over 800,000 pesos across a 20-year term. Use Nook's free calculator to get an estimate based on your actual loan details.
You'll typically need a valid government ID, proof of income (payslips or ITR for the past two years), your latest Bank of Commerce loan statement, and your property title or tax declaration. Employed and self-employed borrowers have slightly different requirements, but Nook will give you a precise checklist once we assess your application.
There are standard third-party costs when refinancing any home loan in the Philippines — these typically include appraisal fees, notarial fees, and registration charges, which usually total between 30,000 and 60,000 pesos depending on your property and loan size. However, Nook's brokerage service is 100% free to you; we are compensated by the bank you choose. In most cases, the monthly savings recoup these one-time costs within 12 to 18 months.
From application to loan release, refinancing in the Philippines typically takes between 30 and 60 business days, depending on the bank and how quickly documents are submitted. Nook helps keep things moving by coordinating directly with the lender on your behalf and flagging any missing requirements early. Once your new loan is released, your Bank of Commerce loan is fully settled and your new lower monthly payments begin.
Check your exact savings in 60 seconds. It's free and takes no commitment.
Check My Savings Now →