Bank Refinance Home Loan Philippines: Which Banks Accept Loan Transfers in 2026?

Bank Refinance Home Loan Philippines: Which Banks Accept Loan Transfers in 2026?

If you took out a home loan in the Philippines two or more years ago, there is a very good chance you are paying a higher interest rate than you need to be. With refinance rates now available as low as 5.99% per annum through a digital mortgage broker, Filipino homeowners who are stuck at 8%, 9%, or even 10% have a real opportunity to cut their monthly payments significantly — and save hundreds of thousands of pesos over the life of their loan.

But before you can refinance, you need to know which banks actually accept home loan transfers in 2026, what each bank's general requirements look like, and how to decide which lender is the right fit for your situation. This guide covers all of that in practical detail.

Why Refinancing Your Home Loan Makes Financial Sense

Let's ground this in real numbers. Suppose you have an outstanding home loan balance of 4,000,000 pesos with 20 years remaining, and your current bank is charging you 9% per annum. Your monthly amortization on that balance is approximately 35,989 pesos.

Now imagine you refinance that same loan at 5.99% per annum with the same remaining term. Your new monthly payment drops to roughly 27,867 pesos — a monthly saving of around 8,122 pesos, or more than 97,000 pesos every single year. Over a 20-year term, that is close to 1,950,000 pesos in total interest savings, even after accounting for refinancing costs.

That is not a marginal improvement. That is life-changing money that could fund your children's education, accelerate your retirement savings, or simply relieve the pressure of a heavy monthly obligation. If you want to see how these numbers apply to your specific loan, learn more about how home loan refinancing works in the Philippines and run your own comparison.

Which Banks Accept Home Loan Refinancing in 2026?

The good news is that most major Philippine banks actively compete for refinancing business. Here is a practical overview of the key players and what you need to know about each one.

BDO Unibank

BDO is the Philippines' largest bank by assets and one of the most active home loan lenders. BDO accepts loan transfers from other banks and offers competitive fixed-rate periods of 1, 2, 3, 5, and 10 years. Their refinancing program is available for residential properties including houses and lots, condominiums, and townhouses. BDO typically requires the property to be titled in the borrower's name, a clean credit history, and proof of stable income. Minimum loan amounts generally start at 1,000,000 pesos.

BPI (Bank of the Philippine Islands)

BPI is consistently among the most competitive refinancing lenders in the country. They offer fixed-rate periods and are known for relatively streamlined processing. BPI's home loan refinancing is available for loans originally taken from any other bank or financial institution. They are particularly attractive for salaried professionals with long employment tenure, as BPI places significant weight on income stability.

Metrobank

Metrobank's home loan refinancing program is available for properties in Metro Manila and major provincial cities. They offer various fixed-rate repricing periods and have a reputation for being receptive to self-employed borrowers who can demonstrate strong financials. Metrobank requires a minimum of two years of clean payment history on your existing loan before they will consider a refinancing application.

Security Bank

Security Bank has positioned itself as one of the more borrower-friendly refinancing options in recent years. They are known for offering competitive introductory rates and for being willing to work with borrowers who have slightly complex income profiles — for example, OFWs or Filipinos with combined local and foreign income sources.

RCBC (Rizal Commercial Banking Corporation)

RCBC offers home loan refinancing for both salaried and self-employed borrowers. They are generally considered more flexible than the larger universal banks when it comes to property types and income documentation. RCBC's fixed-rate periods typically range from 1 to 5 years, after which the loan reprices based on prevailing market rates.

PNB (Philippine National Bank)

PNB accepts loan transfers and offers multi-year fixed rates. One of PNB's notable features is their willingness to refinance loans on properties in secondary cities and municipalities, making them a useful option for borrowers outside Metro Manila and the major provincial urban centers.

UnionBank of the Philippines

UnionBank has been expanding its home loan portfolio aggressively. They offer digital-forward processing and competitive rates. UnionBank is particularly worth considering if you value a more technology-enabled application experience alongside competitive pricing.

Chinabank (China Banking Corporation)

Chinabank is a strong option particularly for borrowers in the Chinese-Filipino business community, though they serve all Filipinos. They offer competitive rates and are known for personalized service through their branch network.

PSBank (Philippine Savings Bank)

As the thrift bank arm of Metrobank Group, PSBank offers home loan refinancing with competitive rates and a slightly different credit assessment approach than its parent. PSBank can be a good alternative if you have had difficulty qualifying at a universal bank.

EastWest Bank

EastWest Bank accepts home loan transfers and has been actively growing its mortgage portfolio. They are worth including in your comparison, particularly if other banks have been slower to respond or more stringent in their assessment.

Pag-IBIG Fund (HDMF)

Pag-IBIG is the government housing fund and a unique and powerful refinancing option for qualified members. Pag-IBIG's home loan refinancing rates can be among the lowest available in the market, and their program is specifically designed to help Filipino workers reduce their housing costs. However, their eligibility requirements are specific — you must be an active Pag-IBIG member with sufficient contributions, and the process is more document-intensive than private banks. If you are a Pag-IBIG member, this option deserves serious consideration. You can find a full breakdown of the process in this guide to Pag-IBIG refinancing requirements and the step-by-step application process.

What Do Banks Look For When Approving a Refinancing Application?

Understanding the criteria banks use helps you prepare a stronger application and choose the right lender from the start. Here are the key factors every bank will evaluate:

• Clean payment history: Most banks want to see at least 12 to 24 months of on-time payments on your existing home loan. Any missed or late payments will raise a red flag and may disqualify you at certain banks.
• Loan-to-value ratio (LTV): Banks will appraise your property and will typically only refinance up to 70% to 80% of the appraised value. If your outstanding loan balance is close to or exceeds the appraised value, you may face difficulty.
• Stable and verifiable income: Whether you are salaried or self-employed, banks need confidence that you can service the loan. Salaried employees typically need at least two years of continuous employment. Self-employed borrowers generally need two to three years of audited financial statements.
• Good credit standing: Banks will check the Credit Information Corporation (CIC) database. Outstanding negative credit records, judgments, or other loans in default will hurt your chances significantly.
• Property with clean title: The property must have a Transfer Certificate of Title (TCT) or Condominium Certificate of Title (CCT) free of encumbrances other than the current mortgage being refinanced.

The Refinancing Process: What to Expect

Refinancing a home loan typically takes between 4 to 8 weeks from application to loan release, depending on the bank and the completeness of your documents. Here is a simplified sequence of what happens:

• Step 1 – Compare rates and pre-qualify: Before committing to any bank, compare offers across multiple lenders. A digital mortgage broker like Nook does this for you at no cost, presenting you with the best available rates based on your specific situation.
• Step 2 – Submit your application and documents: Once you choose a lender, you submit your application form along with income documents, property documents, and your existing loan's Statement of Account showing your outstanding balance.
• Step 3 – Property appraisal: The new bank will send an accredited appraiser to assess the current market value of your property. This appraisal fee is typically paid by the borrower and ranges from 3,500 to 8,000 pesos.
• Step 4 – Credit evaluation and approval: The bank reviews your financial profile and issues a formal Letter of Approval (LOA) specifying the approved loan amount, interest rate, and terms.
• Step 5 – Loan release and payoff: The new bank releases the loan proceeds directly to your old bank, fully paying off your existing loan. Your old bank releases the title, which is then mortgaged to your new bank.
• Step 6 – Begin paying your new, lower rate: From the next billing cycle, you make payments to your new bank at your new, lower interest rate.

Costs to Factor Into Your Refinancing Decision

Refinancing is not entirely free — there are transaction costs involved. Understanding these helps you calculate your true breakeven point and confirm the refinancing makes financial sense for your specific situation.

• Documentary Stamp Tax (DST): 1.5% of the loan amount on the new mortgage. For a 4,000,000 peso loan, that is 60,000 pesos.
• Mortgage registration fee: Approximately 0.25% to 0.5% of the loan amount, paid to the Registry of Deeds.
• Notarial fees: Typically 5,000 to 15,000 pesos depending on the notary and loan amount.
• Property appraisal fee: 3,500 to 8,000 pesos, paid to the new bank's accredited appraiser.
• Prepayment penalty from existing bank: Check your current loan terms carefully. Many banks charge 2% to 5% of the outstanding balance if you pay off the loan before a certain period, typically within the first 3 to 5 years of the loan or fixed-rate period.

As a rough rule of thumb, total refinancing costs typically range from 2% to 4% of the loan amount. With the monthly savings generated by a meaningful rate reduction, most borrowers recover these costs within 12 to 24 months — and then enjoy pure savings for the remainder of the loan term.

Why Using a Mortgage Broker Makes the Process Easier

Approaching each bank individually is time-consuming, and without a benchmark, it is hard to know whether the rate you are being offered is truly competitive. A digital mortgage broker like Nook submits your profile to multiple banks simultaneously, negotiates on your behalf, and presents you with a clear comparison — all at absolutely zero cost to you as the borrower. The broker is compensated by the bank when your loan is successfully processed.

This means you get access to the best available rates in the market without the legwork, and without paying a peso more than if you had approached the bank directly. If you are considering refinancing, read the complete guide to using a Filipino mortgage broker to understand exactly how the process works and what to look for.

Is 2026 a Good Time to Refinance?

With rates as low as 5.99% per annum now available, and many homeowners still carrying loans at 7% to 10%, the answer for most borrowers is a clear yes. If your current rate is more than 1.5 percentage points above the best available rate, and you have more than 10 years remaining on your loan, refinancing almost certainly makes mathematical sense. The larger your outstanding balance and the longer your remaining term, the more dramatic the savings.

The best approach is to get a concrete comparison based on your actual numbers — your outstanding balance, remaining term, and current rate. From there, the math either works or it does not, and you can make a fully informed decision.