Homeowners with a Bank of Commerce home loan could save over 58,000 pesos every year by switching to a lower rate through Nook — completely free.
ESTIMATED MONTHLY SAVINGS
No commitment. No credit check. Just your numbers.
Why this matters
Bank of Commerce offers home loans to Filipino buyers, but like many traditional lenders, their repricing rates can climb well above what the broader market offers. If you took out your loan a few years ago — or if your fixed-rate period has just ended — there's a strong chance you're now paying 8% or more. With today's competitive mortgage interest rates in the Philippines starting as low as 5.99% p.a., the gap between what you're paying and what you could be paying is often significant.
Refinancing your Bank of Commerce home loan through Nook means we shop the market on your behalf — comparing offers from BPI, Security Bank, RCBC, Metrobank, and other leading Philippine lenders — to find you the best available rate for your situation. On a 3,000,000 peso loan with a 20-year remaining term, moving from 8.50% to 5.99% saves over 3,000 pesos every single month. That's real money back in your household budget, not going to your bank.
The process is straightforward: you share your loan details with us, we present you with refinancing options, and you choose the offer that works best for you. Nook's service is 100% free to borrowers — we're paid by the lender only if you proceed. There are no obligations and no pressure. If you're unsure whether refinancing makes sense for your specific loan, our team can walk you through the numbers before you commit to anything.
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, you can refinance at any point during your loan term — but it's worth checking whether Bank of Commerce charges a prepayment or early settlement fee. Nook will factor any applicable fees into your savings calculation so you get a clear picture of whether refinancing makes financial sense right now.
Nook works with a wide panel of Philippine lenders including BPI, Security Bank, RCBC, Metrobank, BDO, UnionBank, Chinabank, and others. We compare their offers simultaneously so you don't have to approach each bank separately and repeat the same paperwork.
The typical refinancing timeline in the Philippines is 30 to 60 days from application to loan release, depending on the new lender and how quickly documents are processed. Nook helps you prepare your documents correctly the first time, which can significantly reduce delays.
You'll generally need your current loan statement, proof of income (payslips or ITR), a copy of your Transfer Certificate of Title, and valid government-issued IDs. Requirements vary slightly by lender — if you'd like a full checklist, our guide on BPI housing loan requirements gives a good overview of what most banks typically ask for.
There's no catch. Nook is a mortgage broker, which means we earn a referral fee from the lender if you successfully refinance — similar to how insurance brokers work. You pay nothing extra, and the rate you receive is the same as or better than going to the bank directly. You're under no obligation at any stage.
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