BPI Home Loan Refinance 2026: How to Switch From Your Current Bank to BPI

BPI Family Savings Bank currently offers the following fixed refinance rates through Nook:

• 1-Year Fixed: 6.70% p.a.
• 5-Year Fixed: 6.50% p.a.
• Home Equity: 6.70% p.a.

The 5-year fixed rate of 6.50% is particularly popular among refinancers because it locks in a predictable monthly payment for five years, giving you stability while still capturing meaningful savings versus the 7%–10% many borrowers are currently paying. After the fixed period ends, your rate will reprice based on prevailing market rates at that time. Note that interest rates are subject to change — always verify the latest rates with Nook or BPI before submitting your application.

BPI Family Savings Bank has relatively accessible eligibility criteria for refinancing applicants. Key requirements include:

• Minimum monthly income: 40,000 pesos (gross)
• Maximum debt-to-income ratio: 40% — meaning your total monthly loan obligations (including the new BPI mortgage) should not exceed 40% of your gross monthly income
• Employment types accepted: Private employees, government employees, BPO workers, OFWs and seafarers, self-employed individuals, and licensed professionals
• Property eligibility: The property must be in the Philippines, titled, and free of adverse claims

You do not need to be an existing BPI customer to refinance with them. If you are currently with another bank — BDO, Metrobank, Security Bank, RCBC, or any other lender — you can still switch. Nook can pre-assess your eligibility for free before you formally apply.

Your savings depend on your outstanding loan balance, remaining term, and the rate gap between your current bank and BPI. Here are two illustrative examples:

Example 1 — Loan balance of 3,000,000 pesos, 20-year term:

• Current rate at 8.50%: estimated monthly payment of approximately 26,035 pesos
• BPI rate at 6.50%: estimated monthly payment of approximately 22,379 pesos
• Monthly savings: approximately 3,656 pesos
• Annual savings: approximately 43,872 pesos

Example 2 — Loan balance of 5,000,000 pesos, 20-year term:

• Current rate at 9.00%: estimated monthly payment of approximately 44,986 pesos
• BPI rate at 6.50%: estimated monthly payment of approximately 37,299 pesos
• Monthly savings: approximately 7,687 pesos
• Annual savings: approximately 92,244 pesos

These figures are indicative and exclude refinancing fees. Use our BPI refinancing calculator to get a personalised savings estimate based on your actual balance and current rate.

BPI Family Savings Bank typically requires the following documents for a refinancing application. Your Nook advisor will confirm the exact checklist based on your employment type.

All applicants:

• Completed BPI home loan application form
• Two valid government-issued IDs (with photo and signature)
• Marriage certificate (if applicable)
• Latest three months' bank statements

Employed applicants (private, government, BPO):

• Certificate of Employment with compensation
• Latest three payslips
• BIR Form 2316 or ITR for the past two years

Self-employed and professionals:

• DTI/SEC registration and business permits
• Audited financial statements for the past two years
• ITR for the past two years with BIR stamp

OFWs and seafarers:

• Employment contract or POEA-verified documents
• Remittance records
• SPA (Special Power of Attorney) for a Philippine-based representative

Property documents (for the property being refinanced):

• Photocopy of Transfer Certificate of Title (TCT) or Condominium Certificate of Title (CCT)
• Latest tax declaration and real property tax receipts
• Loan statement of account from your current bank

Nook provides a complete personalised document checklist and reviews your submission before it goes to BPI, reducing the chance of delays due to missing or incorrect paperwork.

BPI Family Savings Bank's typical approval timeline for home loan refinancing through Nook is approximately 52 days from the date of complete document submission to loan release. This covers the bank's credit evaluation, property appraisal, legal review, and loan documentation.

Here is a general breakdown of the stages:

• Days 1–7: Nook reviews and packages your application, then submits to BPI
• Days 8–21: BPI processes your application and orders a property appraisal
• Days 22–35: Credit decision issued; loan offer letter prepared
• Days 36–52: Loan documentation, notarisation, and coordination with your current bank for loan payoff and title release

The timeline can be shorter if your documents are complete and your property appraisal is straightforward. It can take longer if your current bank is slow to release the title or loan redemption statement. Nook chases both sides on your behalf to keep things moving.

Refinancing involves upfront costs that are important to factor into your break-even calculation. While specific fees vary by loan amount and property, typical costs when refinancing to BPI include:

• Appraisal fee: Approximately 3,500 to 6,000 pesos depending on property location and type
• Processing/application fee: Varies — confirm with your Nook advisor at the time of application
• Mortgage registration fee: Typically 0.25% to 0.50% of the loan amount, paid to the Registry of Deeds
• Documentary stamp tax (DST): 1.50 pesos per 200 pesos of loan amount
• Notarial fees: Variable, depending on your notary
• Prepayment penalty from your current bank: Check your existing loan agreement — many banks charge 2% to 5% of the outstanding balance if you exit during a fixed-rate period. Timing your refinance at the end of a fixed period can eliminate this cost entirely

Nook's service to you as the borrower is completely free. We do not charge application, brokerage, or advisory fees. Our goal is to ensure your total savings from refinancing significantly outweigh these one-off costs.

Yes. BPI Family Savings Bank accepts applications from a wide range of employment types, including OFWs, seafarers, self-employed individuals, and licensed professionals — not just locally employed salaried workers. This makes BPI one of the more inclusive lenders for refinancing in the Philippines.

For OFWs and seafarers: You will need to provide a Philippine-based co-borrower or execute a Special Power of Attorney (SPA) so that a representative can sign documents on your behalf. Income is assessed based on your employment contract, remittance records, and POEA-verified documents.

For self-employed individuals and professionals: BPI looks at your business profitability through audited financial statements and your ITR for the past two years. A consistent income history and a debt-to-income ratio below 40% are the key approval factors. Nook can advise you on how to present your financials in the most favourable — and accurate — light before submission.

BPI Family Savings Bank generally has a minimum refinancing loan amount of 300,000 pesos, though in practice most refinancing applications processed through Nook involve balances of 1,500,000 pesos and above, where the monthly savings are most meaningful.

There is no publicly stated maximum loan amount — BPI evaluates larger loans on a case-by-case basis, with loan-to-value (LTV) ratio and your debt-to-income ratio being the primary constraints. For most residential properties, BPI will lend up to 80% of the appraised value, meaning your outstanding loan balance should ideally not exceed this threshold relative to your property's current market value. If your property has appreciated significantly since you first took out your loan, you may also have equity available for a home equity loan at 6.70% p.a.

Switching your home loan from your current bank to BPI is a process that happens in the background, largely coordinated by Nook and BPI. Here is what the switch actually looks like step by step:

1. BPI approves your refinancing loan and prepares the loan documents for your signature.
2. You sign the loan agreement with BPI (Nook guides you through every clause before you sign).
3. BPI issues a check or bank transfer directly to your current lender — not to you — for the full outstanding balance of your existing loan.
4. Your current bank cancels your existing mortgage and releases the original Transfer Certificate of Title (TCT) or Condominium Certificate of Title (CCT), along with a cancellation of mortgage annotation.
5. BPI registers a new mortgage annotation on the title in their favour at the Registry of Deeds.
6. You begin paying BPI at your new, lower interest rate, typically in the following month after loan release.

The entire process is paperwork-intensive but you do not need to personally manage any of the coordination between your old bank and BPI. That is Nook's role. Learn more about how the bank switching process works in detail.

Nook is the Philippines' first digital mortgage broker, and our service to home loan borrowers is 100% free. We are compensated by the bank when a loan is successfully disbursed — you pay nothing for our advisory, application management, or follow-up services.

Here is what Nook does for you throughout the BPI refinancing process:

• Free eligibility check: We assess whether you are likely to qualify with BPI before you invest time gathering documents
• Rate comparison: We compare BPI's current rates against other partner banks so you are getting a genuinely competitive deal
• Document review: We review your submission before it goes to BPI to catch issues early and reduce the risk of rejection or delays
• Application tracking: We follow up with BPI at every stage so you always know where things stand
• Title and settlement coordination: We liaise between your current bank and BPI to manage the title release and loan payoff

Think of Nook as your personal mortgage advisor with direct access to BPI's home loan team — at no cost to you. To get started, simply submit your details and a Nook advisor will reach out within one business day.