Many DBP housing loan borrowers are paying 8.50% or higher — Nook can help you transfer your loan and lock in rates as low as 5.99% p.a., completely free of charge.
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No commitment. No credit check. Just your numbers.
Why this matters
The Development Bank of the Philippines (DBP) is a respected government financial institution, but its housing loan rates don't always keep pace with the competitive offers available in the private banking sector. If you took out your DBP home loan several years ago, there's a strong chance you're locked into a rate well above what today's market offers. Refinancing — transferring your outstanding loan balance to a private bank with a lower rate — is one of the most effective financial moves a Filipino homeowner can make. You can check current mortgage interest rates in the Philippines to see exactly how much the market has shifted since you first borrowed.
Nook is the Philippines' first digital mortgage broker, and we specialize in exactly this kind of transfer. We work with leading banks including BDO, BPI, Security Bank, Metrobank, RCBC, and more — comparing their refinancing offers on your behalf so you don't have to negotiate alone. Our service costs you absolutely nothing; the receiving bank covers our fee. For a ₱3,000,000 outstanding balance at 8.50%, refinancing to 5.99% could reduce your monthly payment by over ₱4,500, translating to more than ₱800,000 saved over the remaining life of your loan.
The refinancing process can feel daunting, especially if your only experience has been with a government lender like DBP. Nook guides you through every step — from document preparation to bank submission and loan release — in plain Filipino-friendly language. Whether your property is in Metro Manila, Cebu, Davao, or a provincial city, our team can help you find a bank willing to take on your DBP loan at a significantly better rate. Getting started takes less than five minutes online.
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
Yes, absolutely. DBP home loans can be refinanced to any accredited private bank in the Philippines, including BDO, BPI, Security Bank, and Metrobank. The process involves the new bank paying off your remaining DBP balance, after which you make monthly payments to your new lender at the agreed lower rate.
No — refinancing to a private bank is a standard financial transaction and has no bearing on your relationship with DBP or any other government institution. Once your outstanding DBP loan is fully settled by the new bank, your DBP account is closed in good standing. There are no penalties for loyal government borrowers switching lenders.
You'll typically need your latest DBP loan statement of account, a copy of your Transfer Certificate of Title (TCT), proof of income (payslips or ITR), valid government IDs, and a certified true copy of your mortgage. Nook will give you a precise checklist based on the receiving bank you choose, so nothing gets missed.
From application to loan release, refinancing typically takes four to eight weeks, depending on the receiving bank's processing speed and how quickly documents are submitted. Nook actively follows up with the bank on your behalf to keep the process moving as efficiently as possible.
Yes, 100% free. Nook earns a referral fee from the receiving bank upon successful loan transfer — you pay nothing at any stage of the process. There are no consultation fees, no hidden charges, and no obligation to proceed after your initial assessment.
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