Refinance Home Loan Philippines: Which Banks Accept Loan Transfers

Which Philippine Banks Accept Home Loan Refinancing Transfers in 2026?

If you're looking to lower your monthly mortgage payments, one of the most powerful moves you can make is transferring your home loan to a bank offering a better interest rate. But not every bank in the Philippines actively courts refinancing customers — and the ones that do often have very different requirements, rate structures, and processing timelines.

This guide breaks down which major Philippine banks accept home loan transfers, what you need to qualify, and how to get the best deal without wasting months on applications that go nowhere.

Why Bank-to-Bank Refinancing Makes Sense in 2026

Most Filipino homeowners who took out a home loan between 2018 and 2023 locked in rates between 7% and 10% per annum. Today, the best refinance rates available through a multi-bank broker like Nook sit as low as 5.99% p.a. — a gap that translates into real money every single month.

Consider a homeowner with a ₱4,000,000 outstanding loan balance and 20 years remaining. At 8.5%, the monthly payment is approximately ₱34,700. At 5.99%, that same loan drops to around ₱28,600 per month — a saving of roughly ₱6,100 every month, or ₱73,200 per year. Over a five-year fixed period before re-pricing, that's ₱366,000 in savings.

Those numbers are why refinancing your home loan in the Philippines has become one of the most searched financial topics among Filipino homeowners. The question isn't whether you should explore it — it's which bank will give you the best deal.

The Major Banks That Accept Home Loan Transfers

Below is a practical breakdown of the main banks offering refinancing to homeowners transferring from another institution.

BDO Unibank

BDO is the Philippines' largest bank by assets and one of the most active home loan refinancers. They accept transfers from most other banks and from Pag-IBIG. BDO typically offers fixed-rate periods of 1, 2, 3, 5, or 10 years. Their rates are competitive, particularly for loan amounts above ₱3,000,000. BDO requires a minimum loan amount of ₱500,000 and generally wants the property to have a clean title with no encumbrances beyond the existing mortgage being refinanced.

BPI (Bank of the Philippine Islands)

BPI is often regarded as one of the more borrower-friendly banks for refinancing, partly because of its straightforward online application portal and responsive loan officers. BPI offers fixed periods of 1 to 20 years, which gives borrowers unusual flexibility to lock in a rate for the full term of their loan. Rates for BPI's longer fixed periods are slightly higher than short-term fixes, but many homeowners prefer the certainty. BPI accepts transfers from banks and from Pag-IBIG, and their minimum refinance amount is ₱500,000.

Metrobank

Metrobank is another major player that actively accepts loan transfers. They are known for processing refinance applications relatively efficiently compared to some smaller banks. Metrobank offers fixed rates for 1, 2, 3, 5, and 10 years. One important note: Metrobank typically requires the property to be in a developed subdivision or condominium project they have pre-approved. Rural or informally developed lots may face more scrutiny.

Security Bank

Security Bank has positioned itself aggressively in the home loan refinancing space and often offers some of the most competitive rates in the market for well-qualified borrowers. They accept transfers from other banks and are known for fast turnaround on appraisals. Security Bank offers fixed-rate periods of 1, 2, 3, and 5 years. Their minimum loan amount for refinancing is typically ₱1,000,000, making them better suited for mid-to-large loan balances.

RCBC (Rizal Commercial Banking Corporation)

RCBC is a solid option, particularly for OFW borrowers or those with non-traditional income structures. RCBC accepts loan transfers and has dedicated loan products for overseas Filipino workers. Their fixed-rate periods run from 1 to 5 years. RCBC is generally considered more flexible in income documentation, which helps borrowers who are self-employed or receive a mix of local and remittance income.

UnionBank

UnionBank has been modernizing its loan products and accepts home loan refinancing transfers. Their digital-first approach means the application experience is smoother than at some traditional banks. Fixed-rate periods are available for 1, 3, and 5 years. UnionBank tends to be more competitive for properties in Metro Manila and major urban centers.

PNB (Philippine National Bank)

PNB accepts home loan transfers and has historically served a broad market including provincial properties that some private banks decline. Their rates are generally in line with market averages. PNB is worth including in any multi-bank comparison, especially if your property is outside Metro Manila or a secondary city.

Chinabank (China Banking Corporation)

Chinabank is a strong option for refinancing, particularly for borrowers with existing banking relationships at the institution. They offer competitive fixed-rate packages and accept transfers from other banks. Chinabank is known for personalized service at the branch level, which can be an advantage when navigating documentation requirements.

EastWest Bank

EastWest Bank accepts home loan transfers and has been expanding its mortgage portfolio. They tend to offer competitive introductory rates for 1- to 3-year fixed periods. EastWest may be a good fit for borrowers looking for a smaller, more attentive banking relationship during the loan process.

PSBank (Philippine Savings Bank)

As the savings bank arm of Metrobank, PSBank offers home loan refinancing with slightly different rate structures than its parent. PSBank accepts transfers and can be a good alternative if you've been declined by Metrobank due to property type or other criteria.

Pag-IBIG (HDMF)

Pag-IBIG deserves special mention because it occupies a unique position in the refinancing market. Pag-IBIG accepts transfers from private banks and offers some of the most affordable rates available to active Pag-IBIG members — particularly for loan amounts under ₱3,000,000. The tradeoff is processing time, which tends to be longer than private banks. If you're considering this route, reviewing the Pag-IBIG refinancing requirements and application process in detail is strongly recommended before you begin.

What Do Banks Look For When You Apply to Transfer?

Regardless of which bank you approach, refinancing lenders are evaluating the same core set of factors:

• Outstanding loan balance and remaining term: Banks generally prefer refinancing loans with at least 5 years remaining and a balance of at least ₱1,000,000. Smaller or shorter-term loans may not be worth the processing cost to the bank.
• Loan-to-Value (LTV) ratio: Most banks will lend up to 80% of the current appraised value of your property. If your outstanding balance is already below 60% of the property's value, you're in a strong negotiating position.
• Payment history on existing loan: Banks want to see 12-24 months of on-time payments on your current mortgage. Missed payments in the past year are a red flag.
• Stable income: Employed borrowers typically need to show 2 years of continuous employment. Self-employed borrowers need 2-3 years of ITR (Income Tax Returns) showing consistent income. OFWs need valid employment contracts and remittance records.
• Clean title: The property's Transfer Certificate of Title (TCT) must be free of liens, encumbrances, or disputes beyond the existing mortgage you're refinancing.

The Cost of Refinancing: What to Factor In

Refinancing isn't free. While Nook's brokerage service costs you nothing — banks pay Nook directly — there are standard closing costs you'll pay to the bank and government agencies. Typical costs include:

• Appraisal fee: ₱3,500 to ₱7,000 depending on the bank and property location
• Processing fee: ₱5,000 to ₱20,000, sometimes waived for refinancers
• Notarial and documentation fees: ₱5,000 to ₱15,000
• Registration fee (RD): Approximately 0.25% of the loan amount
• Documentary stamp tax (DST): 0.15% of the loan amount (some banks absorb this)
• Cancellation of mortgage on old loan: ₱5,000 to ₱10,000

For a ₱4,000,000 refinance, total closing costs typically run between ₱40,000 and ₱80,000. At a monthly savings of ₱6,100, that's a break-even point of roughly 7 to 14 months — after which every peso saved is pure benefit.

Why Applying to Multiple Banks at Once Is the Smart Move

Every bank uses its own internal pricing model. The rate one bank offers you may be half a percentage point higher than what another bank offers for the exact same loan profile. That difference of 0.5% on a ₱4,000,000 loan over 20 years is approximately ₱1,500 per month — or ₱18,000 per year.

The problem is that applying to banks individually is time-consuming and exhausting. Each bank has different forms, different document requirements, and different timelines. Most borrowers give up after one or two applications and accept whatever rate they're offered.

This is precisely the problem Nook was built to solve. As the Philippines' first digital mortgage broker, Nook submits your single application to multiple banks simultaneously, handles the back-and-forth with lenders, and presents you with competing offers side by side — at zero cost to you. If you want to understand how the broker model works in your favor, the complete guide to using a Filipino mortgage broker explains the process in full.

How to Start the Refinancing Process

Getting started is simpler than most homeowners expect. Here's the basic sequence:

1. Gather your documents: Latest 3 months of payslips or ITR, Statement of Account from your current bank showing outstanding balance, photocopy of your TCT, and a valid government-issued ID.
2. Know your numbers: Outstanding balance, current interest rate, monthly payment, and remaining term.
3. Submit through Nook: One application goes to multiple banks. You'll receive offers within a few business days.
4. Compare and choose: Evaluate total cost of ownership, not just the headline rate. Consider fixed-rate period length and what happens when the rate reprices.
5. Complete bank processing: Once you select a bank, full processing typically takes 4 to 8 weeks including appraisal, credit evaluation, and title verification.

The banks listed above are all established institutions with active refinancing programs. The right one for you depends on your loan size, property type, income profile, and how long you plan to stay in the property before selling or fully paying off the loan.