BDO Home Loan Refinance: How to Lower Your Rate and Monthly Payment

BDO Unibank currently offers a 1-year fixed refinance rate of 6.00% p.a. through Nook. This applies to both standard home loan refinancing and home equity loans. After the fixed period, the rate is re-priced based on prevailing market rates at the time of repricing.

To put this in context, the best refinance rate available through Nook across all partner banks is 5.99% p.a. BDO's 6.00% is extremely competitive and makes it one of the top choices for Filipino homeowners looking to lower their monthly payments. Keep in mind that interest rates are subject to change — always confirm the current rate with your Nook advisor or directly with BDO before locking in your application.

Your savings depend on your outstanding loan balance, your current interest rate, and your remaining loan term. Here are three realistic examples for Filipino homeowners:

Example 1 — ₱2,000,000 loan, 20-year term:
At 8.50% your monthly payment is approximately 17,356. At BDO's 6.00% rate, it drops to approximately 14,321. That's a monthly saving of around 3,035, or over 36,000 per year.

Example 2 — ₱4,000,000 loan, 20-year term:
At 8.00% your monthly payment is approximately 33,458. At 6.00%, it becomes approximately 28,642. Monthly saving: around 4,816, or nearly 58,000 per year.

Example 3 — ₱6,000,000 loan, 15-year term:
At 9.00% your monthly payment is approximately 60,849. At 6.00%, it drops to approximately 50,657. Monthly saving: around 10,192, or over 122,000 per year.

These figures are illustrative estimates. For a personalised calculation based on your exact balance and current rate, speak with a Nook advisor — it's completely free.

BDO accepts a wide range of employment types for home loan refinancing, making it accessible to most Filipino homeowners. You may apply if you are:

• Employed in the private sector — local company employees with a stable employment history
• Government employees — including those from national and local government agencies
• BPO workers — business process outsourcing employees are explicitly welcomed
• OFWs and Seafarers — overseas Filipino workers with verifiable income documentation
• Self-employed professionals — such as doctors, lawyers, architects, and accountants
• Business owners — self-employed individuals with registered businesses

The key income requirement is a minimum monthly income of 50,000. BDO also applies a maximum debt-to-income (DTI) ratio of 40%, meaning your total monthly debt obligations — including the new home loan payment — should not exceed 40% of your gross monthly income. Learn more about how to qualify and what income to declare when applying for BDO refinancing.

While exact requirements can vary by applicant type, the following documents are typically required for a BDO home loan refinance application:

All applicants:

• Duly accomplished BDO Home Loan Application Form
• Two valid government-issued IDs (front and back)
• Latest Income Tax Return (ITR) and BIR Form 2316
• Copy of Transfer Certificate of Title (TCT) or Condominium Certificate of Title (CCT)
• Photocopy of the latest Real Property Tax Declaration and Tax Clearance
• Statement of Account from your current lender (showing outstanding balance)

For employed applicants:

• Certificate of Employment with compensation (issued within the last 3 months)
• Latest 3 months' payslips

For self-employed applicants:

• Audited Financial Statements for the last 2 years
• Business registration documents (DTI or SEC certificate)
• Bank statements for the last 6 months

For OFWs:

• Employment Contract or POEA-verified contract
• Proof of remittances or bank statements
• Special Power of Attorney (SPA) if applying through a representative in the Philippines

Nook advisors can guide you through exactly which documents to prepare for your specific situation, saving you time and reducing the risk of delays.

BDO's typical loan approval timeline is around 30 days from submission of a complete application. This is a standard turnaround among Philippine banks for home loan refinancing.

The 30-day timeline assumes your documents are complete and in order. Incomplete submissions, unclear property titles, or additional verification requirements can extend the process. Here's a general breakdown of the stages:

• Days 1–5: Document submission and initial review
• Days 5–15: Credit evaluation and property appraisal
• Days 15–25: Loan offer issuance and borrower acceptance
• Days 25–30: Legal documentation, title transfer coordination, and loan release

Working through Nook helps streamline this process — your Nook advisor will check that your documents are complete before submission and will follow up on your behalf with the bank, reducing unnecessary back-and-forth.

BDO typically requires a minimum loan amount of 1,000,000 for home loan refinancing, though this can vary. Most refinancing cases handled through Nook involve outstanding balances between 1,500,000 and 10,000,000, which comfortably falls within BDO's lending appetite.

If your outstanding balance is below 1,000,000, BDO may still consider your application depending on the property value and your overall financial profile. In such cases, a home equity loan or a different bank partner through Nook may be more suitable. Your Nook advisor can help you identify the best fit based on your actual balance.

Yes. BDO explicitly accepts OFW and Seafarer applicants for home loan refinancing. This makes BDO one of the more OFW-friendly banks in the Philippines for mortgage refinancing.

As an OFW, you will typically need to provide your employment contract, proof of remittance or income, and a Special Power of Attorney (SPA) authorising a trusted representative in the Philippines to act on your behalf during the application process. Your income documentation should demonstrate a minimum monthly income equivalent of 50,000.

Nook's fully digital process is particularly well-suited for OFW borrowers — you can submit documents remotely, communicate with your Nook advisor online, and track your application status without needing to be physically present in the Philippines for most of the process.

Debt-to-income ratio (DTI) is a key metric banks use to assess your ability to repay a loan. It measures the percentage of your gross monthly income that goes toward debt repayments — including your new home loan payment, car loans, personal loans, credit card minimums, and other obligations.

BDO applies a maximum DTI of 40%. This means that your total monthly debt payments — including the proposed new BDO home loan payment — must not exceed 40% of your gross monthly income.

Example: If your gross monthly income is 100,000, your total monthly debt obligations (including the new home loan) must not exceed 40,000. If your new BDO monthly payment would be 25,000 and you have no other debts, your DTI is 25% — well within BDO's limit. If you also have a 10,000 car loan payment, your combined DTI becomes 35%, still acceptable.

If your DTI is close to or above 40%, refinancing to a lower rate (and therefore a lower monthly payment) can actually help bring your DTI down — potentially making you eligible where you might not have been before. This is one of the often-overlooked benefits of refinancing.

The answer depends entirely on your current rate and which bank is offering the most competitive deal at the time you apply. There are two common scenarios:

Refinancing to BDO (switching from another bank): If your existing loan is with BPI, Metrobank, Security Bank, RCBC, or another lender and your current rate is above 6.00%, refinancing to BDO at 6.00% p.a. could generate meaningful savings. BDO's broad eligibility criteria, competitive rate, and 30-day approval timeline make it an attractive destination bank for refinancing.

Refinancing away from BDO (switching to another bank): If you already have a BDO home loan and your rate is 7% or higher — perhaps from an older fixed period that has already repriced — you may benefit from switching to a bank offering a lower rate. Nook's best available rate across all partners is currently 5.99% p.a. See how switching away from BDO could cut your rate if your current BDO rate is no longer competitive.

The smartest approach is to compare offers across multiple banks at the same time. That's exactly what Nook does — we submit your profile to multiple partner banks and present you with the best offers side by side, at no cost to you.

Nook is the Philippines' first digital mortgage broker. We work with BDO and other leading Philippine banks to help homeowners find the best refinance rate for their situation — and our service is 100% free to the borrower. Nook earns a referral fee from the bank when your loan is approved; you pay nothing extra.

Here's what Nook does for you:

• Rate comparison: We check your eligibility across multiple partner banks simultaneously, including BDO, so you see all your options in one place.
• Document guidance: Your dedicated Nook advisor tells you exactly what to prepare, reducing errors and delays.
• Application management: We submit your application, liaise with the bank, and keep you updated throughout the 30-day process.
• No bias, no pressure: We recommend what's best for your financial situation, not what's most profitable for us.

Whether you're refinancing to BDO or considering switching away from BDO, Nook gives you a clearer picture of your options in minutes. Read our full guide to BDO home loan refinancing in 2026 to understand every step of the process before you apply.