If you took out a DBP housing loan a few years ago, chances are you're paying interest rates between 7% and 9%. Refinancing through Nook could drop your rate to as low as 5.99% per annum — completely free to you.
DBP BORROWER ESTIMATED SAVINGS
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Why this matters
The Development Bank of the Philippines (DBP) has long been a trusted source of housing finance for Filipino professionals, OFWs, and government employees. But like most bank loans repriced on fixed terms, your DBP housing loan rate may no longer reflect what the market can offer today. Many DBP borrowers locked in rates of 8% to 9.5% during previous repricing cycles — and have been paying those rates ever since without knowing a better option exists.
Refinancing your DBP housing loan means transferring your outstanding balance to a new lender offering a significantly lower interest rate. Through Nook, the Philippines' first digital mortgage broker, you can compare refinancing offers from multiple banks — including BDO, BPI, Security Bank, Metrobank, and more — all in one place, at zero cost to you. To understand how today's rates compare to what you're currently paying, check out our guide to current mortgage interest rates in the Philippines. The difference can translate to thousands of pesos in monthly savings over the remaining life of your loan.
The refinancing process through Nook is straightforward and fully digital. You submit your details once, and our team handles the lender comparison and application coordination on your behalf. Whether you have 10 or 20 years remaining on your DBP loan, it's worth finding out exactly how much you could save. Most applicants are surprised by the numbers — and the fact that it costs them nothing to find out.
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 housing loans are eligible for refinancing with private commercial banks just like any other home loan in the Philippines. The process involves paying off your outstanding DBP balance with a new loan from a participating lender offering a lower rate. Nook helps you find and apply for the best available offer without any broker fees.
Nook's service is completely free to borrowers — you pay nothing for our comparison or application support. The only costs involved in refinancing are standard bank fees such as appraisal, notarial, and documentary stamp tax, which are typical of any home loan transaction in the Philippines. We're transparent about these upfront so there are no surprises.
The best refinance rate currently available through Nook is 5.99% per annum, subject to bank approval and individual borrower profile. Your final rate will depend on factors like your remaining loan balance, property value, income, and credit history. The important thing is that most DBP borrowers qualify for rates meaningfully lower than what they're currently paying.
You'll typically need your latest Statement of Account from DBP, proof of income (payslips or ITR), a copy of your Transfer Certificate of Title, and standard KYC documents such as valid IDs and proof of billing. Our team at Nook will guide you through the exact requirements based on the lender you choose. If you're considering BPI as your new lender, our BPI housing loan requirements guide is a helpful reference.
The refinancing process typically takes 4 to 8 weeks from application to loan release, depending on the receiving bank and the completeness of your documents. Nook helps streamline this by ensuring your application is complete and accurate before submission. We follow up with lenders on your behalf so you're not left chasing updates on your own.
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