Best Home Loan Rates in the Philippines 2026: A Complete Comparison
Whether you're buying your first home or looking to refinance an existing loan, securing the best home loan rate is one of the most important financial decisions you'll make. Even a difference of 1% to 2% in your interest rate can translate to hundreds of thousands of pesos over the life of your loan. This guide breaks down the current home loan rates from all major Philippine banks so you can compare, evaluate, and act with confidence.
Current Home Loan Rates by Bank (2026)
Home loan interest rates in the Philippines are typically offered in fixed-rate periods — meaning your rate is locked in for 1, 2, 3, 5, or 10 years before it reprices. Below is a comparison of indicative rates from major Philippine lenders as of 2026. Always confirm current rates directly with each bank, as they change frequently.
BDO Home Loan Rates
BDO is the Philippines' largest bank and one of the most popular choices for home financing. Their rates are competitive across multiple fixed-rate periods.
- 1-year fixed: approximately 7.25% to 7.75% p.a.
- 3-year fixed: approximately 7.50% to 8.00% p.a.
- 5-year fixed: approximately 7.75% to 8.25% p.a.
- 10-year fixed: approximately 8.50% to 9.25% p.a.
BPI Home Loan Rates
Bank of the Philippine Islands is known for its straightforward application process and wide branch network. BPI regularly runs promotions for new borrowers.
- 1-year fixed: approximately 7.00% to 7.50% p.a.
- 3-year fixed: approximately 7.25% to 7.75% p.a.
- 5-year fixed: approximately 7.75% to 8.25% p.a.
- 10-year fixed: approximately 8.25% to 9.00% p.a.
Metrobank Home Loan Rates
Metrobank offers flexible terms and is one of the most trusted names in Philippine banking. Their home loan products are suitable for both purchase and refinancing.
- 1-year fixed: approximately 7.25% to 7.75% p.a.
- 3-year fixed: approximately 7.50% to 8.00% p.a.
- 5-year fixed: approximately 8.00% to 8.50% p.a.
- 10-year fixed: approximately 8.50% to 9.25% p.a.
Security Bank Home Loan Rates
Security Bank has emerged as a strong competitor in the home loan space, frequently offering promotional rates and faster processing times.
- 1-year fixed: approximately 6.75% to 7.50% p.a.
- 3-year fixed: approximately 7.25% to 7.75% p.a.
- 5-year fixed: approximately 7.75% to 8.25% p.a.
- 10-year fixed: approximately 8.25% to 9.00% p.a.
RCBC Home Loan Rates
RCBC offers competitive rates and a streamlined digital application process. They are particularly known for their refinancing products.
- 1-year fixed: approximately 7.00% to 7.50% p.a.
- 3-year fixed: approximately 7.25% to 7.75% p.a.
- 5-year fixed: approximately 7.75% to 8.25% p.a.
- 10-year fixed: approximately 8.50% to 9.00% p.a.
PNB Home Loan Rates
Philippine National Bank is a government-affiliated institution that offers stable, long-term home financing options. Their rates are generally in line with major private banks.
- 1-year fixed: approximately 7.50% to 8.00% p.a.
- 3-year fixed: approximately 7.75% to 8.25% p.a.
- 5-year fixed: approximately 8.00% to 8.75% p.a.
UnionBank Home Loan Rates
UnionBank has invested heavily in digital banking and offers a seamless online home loan application experience. Competitive rates for digitally-savvy borrowers.
- 1-year fixed: approximately 7.25% to 7.75% p.a.
- 3-year fixed: approximately 7.50% to 8.00% p.a.
- 5-year fixed: approximately 8.00% to 8.50% p.a.
Pag-IBIG (HDMF) Home Loan Rates
Pag-IBIG Fund offers some of the lowest rates available in the Philippines, but loans are capped in amount and are only available to active Pag-IBIG members. Their rates are government-regulated and tend to be more stable.
- For loans up to 450,000: approximately 3.00% p.a. (for qualified borrowers)
- For loans up to 750,000: approximately 5.375% p.a.
- For loans up to 6,000,000: approximately 6.375% to 10.00% p.a. depending on term
While Pag-IBIG rates look attractive, the maximum loanable amount (currently up to 6,000,000) and eligibility requirements mean they don't work for every buyer or property type.
What Do These Rates Mean in Real Money?
Let's make this concrete. Say you have a home loan of 3,000,000 pesos with 20 years remaining. Here's how different interest rates affect your monthly payment:
- At 10.00% p.a.: approximately 28,950 per month
- At 8.50% p.a.: approximately 26,035 per month
- At 7.00% p.a.: approximately 23,260 per month
- At 5.99% p.a.: approximately 21,488 per month
The difference between paying 10.00% and 5.99% is over 7,460 pesos every single month — that's more than 89,500 pesos per year, and nearly 1,790,000 pesos over a 20-year loan term. This is exactly why shopping for the best rate matters so much.
To see how much you could save by switching to a lower rate, try the home loan refinance savings calculator — it gives you a personalized estimate in under a minute.
Fixed Rate vs. Variable Rate: What's the Difference?
In the Philippines, most home loans start with a fixed-rate period of 1 to 10 years. After this period, the loan reprices to the bank's prevailing rate at that time — which could be higher or lower than your original rate. Here's how to think about it:
- Short fixed periods (1-2 years): Usually the lowest initial rate, but you take on repricing risk sooner. Best if you plan to sell, refinance, or pay off the loan within a few years.
- Medium fixed periods (3-5 years): A balanced option. Gives you rate certainty for a meaningful period while still offering competitive rates.
- Long fixed periods (10 years): Higher initial rate, but maximum stability. Good for conservative borrowers who value predictability over the next decade.
Most Filipino homeowners opt for the 1- to 3-year fixed period because they plan to refinance before the repricing kicks in — essentially chasing the best rate every few years across different banks.
What Factors Affect the Rate You're Offered?
The advertised rates above are indicative. The actual rate a bank offers you will depend on several factors:
- Loan-to-Value (LTV) ratio: Borrowing 60% of your property's value typically gets you a better rate than borrowing 80%. Banks see lower LTV as lower risk.
- Loan amount: Larger loan amounts sometimes qualify for preferential rates — especially at private banks for amounts above 5,000,000.
- Credit history: A clean credit record with no late payments gives you leverage to negotiate.
- Existing relationship with the bank: If you have a payroll account, time deposit, or other products with the bank, you may qualify for a relationship discount.
- Property type and location: Banks price condominiums and house-and-lot properties differently. Properties in prime locations are generally seen as better collateral.
- Employment status: Salaried employees typically get better rates than self-employed borrowers, who are seen as higher risk.
How to Actually Get the Lowest Rate
Knowing the rates listed above is just the starting point. Here's a practical approach to securing the best deal:
Step 1: Know Your Current Rate
If you already have a home loan, check your loan documents or call your bank to find out your current interest rate and when your next repricing date is. Many Filipino homeowners don't know their exact rate — and that's costing them money.
Step 2: Compare Across Multiple Banks
Don't apply to just one bank. Get quotes from at least three to four lenders. Remember that every formal application can trigger a credit inquiry, so be strategic — compare using informal inquiries or through a mortgage broker first before committing to a formal application.
Step 3: Consider Refinancing
If you currently have a home loan at 8% or above, there's a strong case for refinancing. Through Nook, the best available refinance rate is currently 5.99% p.a. — significantly lower than what most Filipino homeowners are paying today. Refinancing involves moving your loan from your current bank to a new lender offering a better rate.
Not sure if refinancing makes financial sense for your situation? Use the refinance break-even calculator to find out how long it takes for your monthly savings to cover the cost of switching.
Step 4: Negotiate
Banks have some flexibility in their rates, especially for large loan amounts or borrowers with strong profiles. Don't be afraid to bring a competing offer to your current bank and ask them to match or beat it. Retention is cheaper for banks than losing a good borrower.
Step 5: Watch for Promotions
Banks run time-limited promotional rates, especially during property expos, developer launches, and the beginning of the year. Timing your application around these windows can land you a rate that's 0.25% to 0.50% lower than the standard offer.
Should You Go Through a Bank Directly or Use a Mortgage Broker?
Going directly to a bank means you're limited to their products and rates. A mortgage broker like Nook can compare offers from multiple banks simultaneously and present you with the most competitive option — without charging you a single peso. Nook's service is 100% free to borrowers; banks pay the broker's fee when a loan is successfully placed.
This is particularly valuable when refinancing, where the difference in rates across banks can be significant and the paperwork involved in switching can feel overwhelming. Nook handles the comparison and guides you through the process from application to approval.
Key Takeaways
- Home loan rates in the Philippines vary significantly across banks — from below 6% to above 10%.
- Even a 1% difference in rate can save you tens of thousands of pesos per year on a typical loan.
- Fixed-rate periods range from 1 to 10 years; after repricing, your rate changes to the bank's prevailing rate.
- The best rate available through Nook for refinancing is currently 5.99% p.a.
- Pag-IBIG offers the lowest rates but has eligibility and loan amount restrictions.
- Shopping across multiple lenders — or using a free mortgage broker — is the best way to ensure you're not overpaying.