Which Philippine Banks Accept Home Loan Refinancing in 2026?

If you're paying more than 7% interest on your home loan right now, you're almost certainly overpaying — and the good news is that several major Philippine banks are actively competing for your business. Bank refinancing (also called loan transfer or home loan takeover) lets you move your existing mortgage to a new lender offering a lower rate, potentially saving you tens of thousands of pesos every year.

This guide breaks down which banks accept home loan transfers in 2026, what rates and fees to expect, and how to figure out which lender is actually the easiest to work with — not just the one with the lowest advertised rate.

What Is Bank Home Loan Refinancing?

When you refinance your home loan, a new bank pays off your existing mortgage and replaces it with a fresh loan — ideally at a lower interest rate, better terms, or both. In the Philippines, this is commonly called a loan transfer or home loan takeover. Your property remains the collateral; only the lender changes.

The best refinance rate currently available through digital mortgage brokers like Nook is 5.99% per annum. Compare that to the 8–10% many homeowners are still paying on loans taken out several years ago, and the savings become very real very quickly.

A Quick Example

Say you have an outstanding balance of 3,000,000 on your home loan with 15 years remaining, currently at 9% interest. Your monthly payment is approximately 30,430. If you refinance to 5.99%, your new monthly payment drops to around 25,280 — a saving of roughly 5,150 per month, or 61,800 per year. Over the remaining loan term, that's more than 927,000 in total interest savings.

Banks That Accept Home Loan Transfers in 2026

Not every bank aggressively markets its refinancing product, but most major universal and commercial banks in the Philippines will accept loan transfers. Here's what you need to know about each:

BDO Unibank

BDO is the Philippines' largest bank by assets and one of the most active home loan refinancers. They accept loan transfers from virtually any source — other banks, Pag-IBIG, and even in-house developer financing. BDO typically offers fixed rate periods of 1, 2, 3, 5, or 10 years, after which the rate re-prices. Their process is relatively streamlined, though turnaround times can run 4–8 weeks depending on branch load. BDO charges a processing fee, appraisal fee, and documentary stamp tax on the new loan — budget around 30,000 to 60,000 in closing costs depending on your loan amount.

BPI (Bank of the Philippine Islands)

BPI is widely regarded as one of the more borrower-friendly banks for refinancing. Their online application portal is functional, their relationship managers tend to be responsive, and they publish their rates more transparently than many competitors. BPI offers fixed rate periods ranging from 1 to 20 years, which is useful if you want long-term rate certainty. Like BDO, expect closing costs in the 30,000 to 60,000 range for most loan sizes.

Security Bank

Security Bank has been one of the most competitive banks for home loan refinancing over the past several years. They frequently offer promotional rates for loan takeovers and are known for relatively fast processing — sometimes as quick as 3 weeks for complete applications. Security Bank is particularly worth checking if your loan balance is 2,000,000 or above, as they tend to price more aggressively at higher loan amounts.

RCBC (Rizal Commercial Banking Corporation)

RCBC actively solicits loan transfers and has competitive rates, particularly for Overseas Filipino Workers (OFWs) and returning residents. Their documentary requirements are similar to other banks, but they have dedicated teams for OFW borrowers that can make the process smoother if you or your co-borrower is based abroad.

Metrobank

Metrobank is one of the Philippines' Big Three banks and accepts refinancing from other banks and Pag-IBIG. Their rates are competitive, though they tend to be slightly less aggressive on promotional offers compared to Security Bank or BPI. Metrobank's strength is its branch network and stability — if you want a large, conservative lender, this is a solid option.

China Bank (Chinabank)

Chinabank has grown its retail banking presence significantly and now offers competitive home loan refinancing. They're worth including in your comparison, particularly if you already have a relationship with the bank. Chinabank has been known to offer slightly more flexible income documentation for self-employed borrowers.

PNB (Philippine National Bank)

PNB offers home loan takeovers and has a presence across the country. Their rates are generally in line with the market. PNB can be a good option if you're refinancing a property outside Metro Manila, as their provincial branch network is extensive.

EastWest Bank

EastWest Bank is a mid-sized lender that has been pushing into the home loan refinancing space. They sometimes offer attractive introductory rates to win loan transfer business. Processing times can vary more than at larger banks, so it's worth asking specifically about their current turnaround when you apply.

PSBank

PSBank (Philippine Savings Bank), a subsidiary of Metrobank, also accepts loan transfers. If you're unable to qualify at Metrobank directly, PSBank sometimes has slightly different underwriting criteria that could work in your favor.

Pag-IBIG (HDMF)

Pag-IBIG is not a commercial bank but deserves mention because many Filipinos refinance from private banks into Pag-IBIG (or vice versa). Pag-IBIG rates can be very competitive for members, and the fund accepts loan transfers from commercial banks. If you're a contributing Pag-IBIG member, this should absolutely be on your comparison list. See our detailed Pag-IBIG refinancing requirements guide for the full application process.

What Fees Will You Pay When Refinancing?

One of the most common mistakes homeowners make is comparing interest rates without accounting for closing costs. Here's a realistic breakdown of what you'll pay when transferring your home loan to a new bank:

Total closing costs on a 3,000,000 loan typically run between 65,000 and 100,000. This is a one-time cost, but it matters for calculating your breakeven point — how long it takes for your monthly savings to offset what you paid to refinance.

Using our earlier example (5,150 monthly savings, 82,000 in closing costs), your breakeven point is roughly 16 months. After that, every peso saved is pure gain.

Which Bank Is Easiest to Refinance With?

Rate is important, but so is the experience of actually getting through the process. Based on borrower feedback and industry knowledge, here's a rough ranking of processing ease:

The honest answer, though, is that the "easiest" bank depends heavily on your specific profile — your income type, employment status, property location, and existing banking relationships all matter. This is exactly why working with a mortgage broker pays off: instead of applying to one bank and hoping for the best, you get multiple banks assessed simultaneously against your profile.

How to Compare Banks Without Doing It Yourself

Approaching each bank individually is time-consuming and inefficient. Each application requires a full document set, and each bank will pull its own credit assessment — which can affect your credit standing if done repeatedly. A smarter approach is to use a mortgage broker who can submit your information to multiple lenders at once and present you with competing offers.

Nook is the Philippines' first digital mortgage broker, and the service is completely free to borrowers. Nook negotiates with banks on your behalf and presents you with the best available rate for your profile — currently as low as 5.99% per annum. You can read more about how this process works in our complete guide to using a Filipino mortgage broker.

Refinancing Requirements: What Every Bank Will Ask For

While requirements vary slightly between lenders, you'll generally need to prepare:

Self-employed applicants will additionally need audited financial statements for the past 2 years and their DTI (Department of Trade and Industry) or SEC registration documents.

Is 2026 a Good Time to Refinance?

The Bangko Sentral ng Pilipinas (BSP) has been in a rate-cutting cycle, which has pulled down new lending rates across the banking sector. Homeowners who locked in loans at 9–10% during higher-rate periods are increasingly finding that refinancing makes financial sense. With rates available at 5.99%, the gap between what many homeowners are paying and what they could be paying has rarely been wider.

If your current loan is more than 2 years old and you haven't reviewed your rate recently, 2026 is an excellent time to do a full refinancing assessment and see how much you could save.

Final Word

Multiple Philippine banks accept home loan transfers in 2026 — BDO, BPI, Security Bank, RCBC, Metrobank, Chinabank, PNB, EastWest, PSBank, and Pag-IBIG are all viable options. The best bank for you depends on your loan size, income type, property location, and how quickly you need the process to move. Rather than applying to each one individually, working with Nook lets you access the best available rate across multiple banks in one free, streamlined process.