If you have a Development Bank of the Philippines home loan, you could be paying far more than you need to. Refinancing to as low as 5.99% p.a. through Nook could save you over 4,850 pesos every single month — and it costs you nothing to find out.
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Why this matters
DBP offers home loans with a developmental mandate, often serving government employees, professionals, and borrowers in key sectors. However, like most Philippine banks, DBP's mortgage rates are re-priced periodically — and many borrowers who took out loans several years ago are now locked into rates of 8% to 10% or higher. If your fixing period has expired or is about to, this is the ideal window to compare current mortgage interest rates in the Philippines and explore refinancing options that could dramatically reduce your monthly repayment.
Refinancing your DBP home loan means taking a new loan — typically with a different bank offering a lower rate — to pay off your existing DBP balance. The process sounds complicated, but Nook makes it straightforward. As the Philippines' first digital mortgage broker, Nook submits your application to multiple lenders simultaneously, compares offers on your behalf, and handles the paperwork from start to finish. You never pay a broker fee — Nook's service is completely free to borrowers.
On a 3,000,000 peso loan with 20 years remaining, switching from 8.50% to 5.99% can reduce your monthly payment by around 4,850 pesos. Over the life of the loan, that adds up to more than 873,000 pesos in total interest savings. Whether you are currently with DBP and looking to switch out, or considering DBP as a destination lender, Nook can help you evaluate your options and find the most competitive rate available to you today.
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, you can refinance your DBP home loan to another bank at any time, though you should check your loan agreement for any early settlement fees or lock-in period clauses. Most DBP borrowers become eligible to refinance without penalties after their initial fixing period ends. Nook can review your situation and match you with banks offering the most competitive rates for your loan size and remaining term.
The savings depend on your current interest rate, remaining loan balance, and the new rate you qualify for. For a 3,000,000 peso loan at 8.50% refinanced to 5.99% over 20 years, the monthly saving is approximately 4,850 pesos — or over 873,000 pesos across the full term. Even borrowers with smaller balances or shorter remaining terms often find that refinancing delivers meaningful savings.
Nook works with a panel of leading Philippine banks including BDO, BPI, Metrobank, Security Bank, RCBC, UnionBank, Chinabank, and others. We submit your application to multiple lenders and present you with the best offers available — you compare real numbers before committing to anything. If you are also curious about specific bank options, you can explore guides like the BPI housing loan requirements overview to understand what individual lenders look for.
The refinancing process typically takes between 4 and 8 weeks from application to loan release, depending on document completeness and the lender's processing timelines. Nook helps you prepare and submit all required documents upfront to minimise delays. Our team stays in contact with your chosen bank throughout the process so you are never left wondering what happens next.
No — Nook's mortgage brokering service is completely free for borrowers. There are no consultation fees, application fees, or broker commissions charged to you at any stage. Nook is compensated by the lender once your loan is successfully settled, which means our incentive is always to find you the best possible outcome.
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