Many Bank of Commerce home loan borrowers are paying rates between 8% and 9.5% per annum — when the best refinance rates available today start at just 5.99% p.a. Nook helps you switch lenders, free of charge.
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Why this matters
Bank of Commerce offers home loans to Filipino buyers, but like many mid-tier banks, their repriced rates after the initial fixed period can climb well above what the market's most competitive lenders are offering. If you took out your home loan more than two or three years ago and haven't reviewed your rate since, there's a strong chance you're overpaying every single month. Refinancing is how borrowers take back control — and it's more accessible than most people think.
Nook is the Philippines' first digital mortgage broker, and we work with the full landscape of Philippine banks — from BDO and BPI to Security Bank, RCBC, and others — to find you the lowest available rate for your specific loan profile. There's no fee to use Nook's service; we're paid by the bank when your loan settles. That means our incentive is always to find you the best possible deal. You can check current mortgage interest rates in the Philippines to see exactly how Bank of Commerce stacks up against competing lenders right now.
The refinancing process involves switching your existing home loan from Bank of Commerce to a new lender that offers a lower interest rate. Your new lender pays out your outstanding balance, and you begin repaying them at the improved rate. For a loan of 3,000,000 with 20 years remaining, even a 2–3 percentage point reduction translates to hundreds of thousands of pesos saved over the life of the loan. Nook handles the paperwork, coordinates with both banks, and guides you from application through to settlement — so you can focus on what matters most.
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
In most cases, yes — you can refinance your Bank of Commerce home loan once your initial fixed-rate lock-in period has ended, typically after one to three years. Refinancing before this period ends may trigger early settlement fees, so it's worth checking your loan contract first. Nook can help you review the timing to make sure refinancing makes financial sense for your situation.
Nook works with a wide panel of Philippine banks, including BDO, BPI, Security Bank, Metrobank, RCBC, UnionBank, Chinabank, and more. We compare offers across lenders to find the rate and term combination that delivers the most savings for your loan profile. You're never locked into a single option — we present you with the best available choices.
Nook's service is completely free for borrowers — there are no broker fees, consultation fees, or hidden charges at any stage of the process. We earn a referral fee from the bank when your refinanced loan settles successfully. This model means our interests are fully aligned with yours: we only get paid when we find you a better deal.
Standard refinancing documents include your government-issued ID, proof of income (payslips or ITR for the past two years), your existing loan statement of account, and the title documents for your property. The exact requirements vary slightly between receiving banks, but Nook will provide you with a tailored checklist once we've matched you with the right lender. If you're comparing options, the BPI housing loan requirements guide gives a good sense of what a typical major bank will ask for.
From application to loan release, refinancing typically takes between four to eight weeks, depending on how quickly documents are submitted and how fast the receiving bank processes the application. Nook actively follows up on your behalf throughout the process to minimise delays. Starting early — especially before your Bank of Commerce rate reprices upward — gives you the best chance of a smooth, timely switch.
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