BPI vs First Metro Investment: Home Loan Overview
When Filipino homeowners search for a home loan or refinancing option, BPI (Bank of the Philippine Islands, through its BPI Family Savings Bank subsidiary) is one of the most commonly compared lenders in the market. First Metro Investment Corporation (FMIC), on the other hand, is the investment banking arm of the Metrobank Group. While FMIC does offer certain financing products, its home loan offerings are not widely publicized or accessible to retail borrowers in the same way that BPI's are.
This comparison is important because many homeowners encounter First Metro Investment when researching Metrobank-affiliated financial institutions and wonder whether it is a viable alternative for home financing. The short answer: for most Filipinos looking to purchase or refinance a home, BPI Family Savings Bank is the more practical and accessible lender.
Note: Interest rates are subject to change. Always verify current rates directly with the lender or through Nook before making a financial decision.
Interest Rate Comparison
| Rate Type | BPI Family Savings Bank | First Metro Investment |
|---|---|---|
| 1-Year Fixed Rate | 6.70% p.a. | Not publicly available |
| 5-Year Fixed Rate | 6.50% p.a. | Not publicly available |
| Home Equity / Refi Rate | 6.70% p.a. | Not publicly available |
| Best Available via Nook | 5.99% p.a. | N/A |
BPI Family Savings Bank's published rates start at 6.50% p.a. for a 5-year fixed term and 6.70% p.a. for 1-year fixed and home equity loans. Through Nook, eligible borrowers may access rates as low as 5.99% p.a. — among the most competitive refinance rates available in the Philippines today.
First Metro Investment does not publish retail home loan rates in the conventional sense. Their financing products are generally structured for institutional clients, real estate developers, or high-net-worth individuals, and terms are negotiated on a case-by-case basis. This lack of transparency makes it difficult for ordinary homeowners to compare and plan.
Monthly Amortization Example
To illustrate the real-world impact of rate differences, here is a sample monthly amortization comparison for a 3,000,000 peso home loan over 20 years at different interest rates:
| Interest Rate | Monthly Amortization (approx.) | Total Interest Paid (approx.) |
|---|---|---|
| 8.50% (typical existing rate) | 26,035 | 3,248,400 |
| 6.70% (BPI 1-year fixed) | 22,693 | 2,446,320 |
| 6.50% (BPI 5-year fixed) | 22,368 | 2,368,320 |
| 5.99% (best Nook rate) | 21,491 | 2,157,840 |
A homeowner currently paying 8.50% on a 3,000,000 peso loan could save approximately 4,544 pesos per month by refinancing to 5.99% through Nook — that's over 54,000 pesos per year in savings, or more than 1,090,000 pesos over the remaining loan life.
Eligibility Requirements
| Criteria | BPI Family Savings Bank | First Metro Investment |
|---|---|---|
| Minimum Monthly Income | 40,000 | Not publicly specified |
| Employment Types Accepted | Private, Government, BPO, OFW/Seafarer, Self-Employed, Professional | Primarily institutional/corporate |
| Maximum Debt-to-Income Ratio | 40% | Not publicly specified |
| Typical Approval Timeline | 52 days | Varies (not publicly disclosed) |
BPI Family Savings Bank accepts a wide range of borrower profiles, making it one of the more inclusive home loan providers in the Philippines. Whether you are a salaried employee, an OFW, a freelancer, or a small business owner, BPI has a pathway for you. If you're also evaluating other lenders in a similar tier, our BPI vs Chinabank home loan comparison is worth reading for additional context.
Loan Purposes Supported
| Purpose | BPI Family Savings Bank | First Metro Investment |
|---|---|---|
| Refinancing | ✅ Yes | ⚠️ Limited / Case-by-case |
| Home Purchase (RFO) | ✅ Yes | ⚠️ Limited |
| Pre-Selling | ✅ Yes | ⚠️ Limited |
| Home Equity / Cash-Out | ✅ Yes | ⚠️ Limited |
| New Construction | ✅ Yes | ⚠️ Limited |
| Renovation | ✅ Yes | ⚠️ Limited |
| Foreclosed Properties | ✅ Yes | ⚠️ Limited |
BPI Family Savings Bank covers virtually every major home loan use case, from buying a pre-selling condo unit to refinancing an existing loan from another bank. This versatility is a significant advantage for borrowers at different stages of their property journey.
Why Apply Through Nook Instead of Going Direct?
Nook is the Philippines' first digital mortgage broker — and our service is completely free for borrowers. When you apply through Nook, you get access to multiple partner banks (including BPI Family Savings Bank) with a single application. Our team negotiates on your behalf to find the lowest available rate for your profile.
Going directly to BPI or any single bank means you only see one set of rates. Through Nook, you can compare offers across lenders and potentially access rates as low as 5.99% p.a. — rates that may not be available through a standard walk-in application.
You might also find our comparisons of BPI vs SB Finance and BPI vs Maybank Philippines helpful if you're still exploring your lender options.
Summary: BPI vs First Metro Investment
| Feature | BPI Family Savings Bank | First Metro Investment |
|---|---|---|
| Retail Home Loan Product | ✅ Yes, widely available | ❌ Not a standard retail product |
| Published Rates | ✅ Transparent | ❌ Not publicly listed |
| OFW / Self-Employed Eligible | ✅ Yes | ❌ Not confirmed |
| Refinancing Available | ✅ Yes | ⚠️ Unclear |
| Apply via Nook (Free) | ✅ Yes | ❌ No |
| Lowest Rate via Nook | 5.99% p.a. | N/A |
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Compare My Options →Frequently Asked Questions
Does First Metro Investment offer home loans to individual borrowers?
First Metro Investment Corporation (FMIC) is primarily an investment bank and financial services company under the Metrobank Group. It does not offer standard retail home loan products the way BPI Family Savings Bank does. Homeowners looking for a conventional home purchase or refinancing loan are better served by applying directly to a retail bank like BPI, or through a mortgage broker like Nook.
What is BPI's current home loan interest rate?
BPI Family Savings Bank currently offers a 1-year fixed rate of 6.70% p.a. and a 5-year fixed rate of 6.50% p.a. Home equity loans are also available at 6.70% p.a. Through Nook, eligible borrowers may access rates as low as 5.99% p.a. Note that rates are subject to change — verify the latest rates through Nook or directly with BPI before applying.
How much can I save by refinancing my home loan to BPI through Nook?
The savings depend on your current interest rate, outstanding loan balance, and remaining term. As an example, a homeowner with a 3,000,000 peso loan at 8.50% paying around 26,035 pesos per month could reduce their payment to approximately 21,491 pesos per month at 5.99% — a monthly saving of over 4,500 pesos, or more than 54,000 pesos per year.
Is Nook's mortgage brokering service really free?
Yes. Nook's service is 100% free for borrowers. Nook earns a referral fee from the partner bank when your loan is successfully disbursed — you pay nothing extra. In fact, borrowers who apply through Nook often access lower rates than they would by walking into a bank branch directly.
Can OFWs and self-employed borrowers apply for a BPI home loan through Nook?
Yes. BPI Family Savings Bank accepts a wide range of employment types including OFWs, seafarers, self-employed individuals, professionals, BPO workers, government employees, and private sector employees. The minimum monthly income requirement is 40,000 pesos, and the maximum debt-to-income ratio is 40%. Nook can help you determine your eligibility before you formally apply.
How long does BPI take to approve a home loan?
BPI Family Savings Bank typically takes around 52 days from complete document submission to loan approval. This timeline can vary depending on the complexity of the application and property documentation. Nook's team assists borrowers in preparing complete and accurate submissions to help avoid unnecessary delays.
What loan purposes does BPI support?
BPI Family Savings Bank supports a wide range of home loan purposes including refinancing of an existing loan, home equity or cash-out loans, purchase of ready-for-occupancy (RFO) and pre-selling properties, new construction, renovation, reselling, and acquisition of foreclosed properties. This makes BPI one of the most versatile home loan providers available through Nook.