Homeowners with DBP housing loans are overpaying by thousands every month. Refinance to as low as 5.99% p.a. through Nook — completely free.
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Why this matters
The Development Bank of the Philippines (DBP) offers housing loans as part of its mandate to support Filipino families, but its rates are rarely the most competitive in the market. Many DBP borrowers find themselves locked into rates of 8% to 10% — rates that made sense at the time of approval but have since been overtaken by better options from private commercial banks. Refinancing your DBP housing loan means replacing it with a new loan from a private lender at a significantly lower rate, and the savings can be substantial over the life of your loan.
Through Nook, you can compare refinancing offers from multiple Philippine banks — including BDO, BPI, Security Bank, Metrobank, and others — all in one place. Nook is the Philippines' first digital mortgage broker, and the service is 100% free to borrowers. There are no broker fees, no hidden charges, and no obligation to proceed. If you want to understand what rates are currently available in the market, you can check the current mortgage interest rates in the Philippines to see how your DBP rate compares.
The refinancing process with Nook typically takes 4 to 8 weeks from application to loan release. You'll need standard documents — proof of income, your DBP loan statement, and property title documents. Nook's team guides you through every step, coordinates with the new lender on your behalf, and ensures a smooth transition. Borrowers with a remaining loan balance of at least 1,500,000 and more than five years left on their term tend to see the strongest savings. If you're also comparing lenders for a fresh application, the BPI housing loan requirements guide is a helpful reference for what private banks typically ask for.
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 housing loan with any accredited private bank in the Philippines. The new bank pays off your outstanding DBP balance, and you continue repayments under the new lender's terms — ideally at a much lower interest rate. Nook helps you compare multiple banks at once so you can choose the best offer.
On a 3,000,000 loan with 20 years remaining, switching from a typical DBP rate of 8.50% to Nook's best available rate of 5.99% saves approximately 4,544 per month — or over 54,000 per year. Total savings over the remaining loan term can exceed 800,000 depending on your balance and remaining term.
Nook's service is completely free to borrowers — there are no broker fees at any stage. However, you should budget for standard refinancing costs such as appraisal fees, documentary stamp tax, and registration fees charged by the new bank, which typically range from 30,000 to 80,000. These one-time costs are usually recovered within a few months of lower monthly payments.
DBP may apply a pre-termination penalty depending on the terms of your original loan agreement and how early you are in your repayment schedule. It's important to review your loan contract or contact DBP directly to confirm any applicable charges before proceeding. Nook can help you factor these costs into your savings calculation to confirm refinancing still makes financial sense.
The typical refinancing timeline through Nook is 4 to 8 weeks from submission of complete documents to loan release by the new bank. Processing time can vary depending on the lender you choose and how quickly property appraisal and title verification are completed. Nook's team manages the coordination so you're not left chasing banks on your own.
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