Refinancing to BPI could cut your monthly mortgage payment significantly. Nook helps you apply to BPI for free — and with rates starting at 6.50% p.a., the savings can be substantial.
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Why this matters
BPI is one of the Philippines' most established home loan lenders, and their refinancing program is a strong option for homeowners looking to reduce their interest rate. Through Nook, you can access BPI's current fixed rates — 6.70% p.a. for a 1-year fix and 6.50% p.a. for a 5-year fix — without paying any broker fees. If you're currently locked into an older loan at 8%, 9%, or higher, switching to BPI through refinancing could reduce your monthly payment by thousands of pesos. For a deeper look at how BPI's rates and process compare, see our guide to BPI rates, process, and estimated savings.
To qualify for a BPI home loan refinance, you'll generally need a minimum monthly income of ₱40,000, a clean credit history, and a property that's already titled in your name. BPI accepts a wide range of borrower types — including private and government employees, BPO workers, OFWs, self-employed professionals, and business owners. The typical approval timeline is around 52 days from submission of complete documents, so it pays to get your requirements together early. Nook's team will guide you through exactly what to prepare so your application moves as smoothly as possible.
The refinancing process involves transferring your existing mortgage to BPI, who then becomes your new lender at the new, lower rate. You'll need to factor in one-time costs such as appraisal fees, transfer charges, and documentary stamp tax — but for most borrowers, these are recovered within the first year of lower payments. If you're also considering switching from another bank to BPI, Nook can help you compare your options and handle the paperwork coordination at no cost to you. Interest rates are subject to change; always verify the latest rates with BPI or through Nook before submitting your application.
How it works
Enter your loan details into our calculator. Instantly see what banks are offering right now and how much you'd save each month. No personal information required.
If the numbers make sense, book a free call. Your consultant compares offers from 15+ banks — something that would take you weeks to do on your own — and recommends the best option for your situation.
We manage the entire application, documentation, and bank coordination. You sign where we tell you. Your new lower payment starts next month. Nook's service is completely free — we're paid by the receiving bank.
Common questions
As of 2026, BPI offers a 1-year fixed rate of 6.70% p.a. and a 5-year fixed rate of 6.50% p.a. for home loan refinancing. These rates are subject to change, so we recommend checking with Nook or BPI directly to confirm the most current figures before you apply.
You'll typically need government-issued IDs, proof of income (payslips, ITR, or business financials), a copy of your existing loan statement of account, your Transfer Certificate of Title (TCT), and a copy of the latest real property tax receipt. Nook provides a complete, up-to-date checklist tailored to your employment type so nothing gets missed.
BPI's typical approval timeline is around 52 days from the date complete documents are submitted. Delays usually happen when documents are incomplete or income requirements aren't clearly met — which is exactly why applying through Nook helps, since our team reviews your documents before submission.
Yes, BPI requires a minimum monthly income of ₱40,000 for home loan refinancing. This applies across most employment types including salaried employees, self-employed individuals, OFWs, and professionals. Combined spousal income may also be considered to help meet this threshold.
No — Nook's service is 100% free to borrowers. Nook is paid by the bank when your loan is approved, so you get full broker support, document guidance, and rate comparisons at zero cost. There's no obligation to proceed, and you can explore your options without any upfront commitment.
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