Hundreds of Filipino homeowners are overpaying on their BPI housing loan. Refinancing through Nook could save you over 58,000 pesos every year — and our service is completely free.
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Why this matters
BPI (Bank of the Philippine Islands) is one of the most trusted names in Philippine home lending, offering competitive housing loan products for purchases, construction, and refinancing. For 2026, BPI Family Savings Bank — Nook's verified partner — offers fixed rates starting at 6.50% for a 5-year fix and 6.70% for a 1-year fix or home equity loan. These rates are among the most competitive available in the market, especially when you consider BPI's reputation for reliable service, fast processing (typically 52 days to approval), and flexible eligibility that covers private employees, government workers, BPO staff, OFWs, seafarers, self-employed professionals, and more. Whether you're buying a ready-for-occupancy unit, refinancing an existing loan, or funding a renovation, BPI has a loan purpose to match. You can explore BPI's current home loan interest rates and how they compare across different fixing periods to find the right fit for your situation.
If you already have a housing loan — whether with BPI or another bank — and your current rate is above 7%, refinancing is worth a serious look. Most homeowners who took out loans between 2018 and 2022 are locked into rates of 8% to 10%, meaning they are overpaying by thousands of pesos every single month. Refinancing to BPI's 6.50% 5-year fixed rate on a 3,000,000-peso balance with 20 years remaining could reduce your monthly amortization significantly and free up real cash for your family. Nook is the Philippines' first digital mortgage broker and we make it easy to compare BPI against other lenders, calculate your savings, and submit a single application — all at zero cost to you. For a full breakdown of what documents you will need, check out our complete BPI housing loan requirements guide.
Qualifying for a BPI housing loan through Nook requires a minimum monthly income of 40,000 pesos and a debt-to-income ratio of no more than 40%. Beyond those thresholds, BPI is broadly accessible — salaried employees, self-employed individuals, and OFWs are all eligible. Nook's advisors will review your profile, match you with the best available BPI product, and handle the paperwork coordination on your behalf. There are no broker fees, no hidden charges, and no obligation to proceed. Interest rates are subject to change and we always recommend verifying the latest rates directly before locking in — but the savings opportunity for most borrowers right now is real and significant. Start your free assessment today and find out exactly how much you could save.
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
Through Nook, BPI Family Savings Bank currently offers a 1-year fixed rate of 6.70% per annum and a 5-year fixed rate of 6.50% per annum. Home equity loans are also available at 6.70%. These rates are subject to change, so it's best to confirm the latest figures before you apply — Nook's advisors can provide up-to-date quotes at no cost to you.
BPI accepts applications from a wide range of employment types including private employees, government workers, BPO staff, OFWs, seafarers, self-employed individuals, and licensed professionals. The minimum monthly income requirement is 40,000 pesos, and your total debt obligations should not exceed 40% of your gross monthly income. Both Filipino citizens and certain qualified non-resident Filipinos may apply.
BPI housing loans can be used for a range of purposes: purchasing a ready-for-occupancy or pre-selling property, refinancing an existing home loan from another bank, home construction, renovation, home equity (releasing equity from an existing property), and buying foreclosed properties. This flexibility makes BPI a strong option whether you are a first-time buyer or an experienced property owner.
BPI Family Savings Bank typically completes the loan approval process in around 52 days from submission of complete documents. Working with Nook can help streamline this process since our advisors know exactly what BPI requires and will help you prepare a complete application from the start, reducing back-and-forth and avoiding common delays.
If your current home loan rate is above 7% — which is the case for many borrowers who took out loans in recent years — refinancing to BPI's 6.50% five-year fixed rate could reduce your monthly payment by several thousand pesos. On a 3,000,000-peso balance with 20 years remaining, the difference is substantial over the life of the loan. Nook can calculate your exact savings for free, with no obligation to proceed.
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