Homeowners comparing DBP and PBCOM home loan rates are discovering they could save significantly by refinancing to as low as 5.99% p.a. through Nook — completely free.
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Why this matters
If you currently have a home loan with DBP (Development Bank of the Philippines) or PBCOM (Philippine Bank of Communications), you may be paying a rate anywhere between 7.5% and 9.5% p.a. depending on when your loan was originated and when your last repricing period kicked in. Both banks offer home loan products, but neither is known for having the most competitive refinancing rates in the market — which means loyal borrowers often end up quietly overpaying year after year. Before your next repricing date locks you in for another fixed-rate period, it's worth checking what today's best rates actually look like. You can see current mortgage interest rates across Philippine banks to get a real benchmark.
Refinancing your home loan means switching your existing mortgage to a new lender offering a lower interest rate. On a 3,000,000 loan with 20 years remaining, dropping from 8.50% to 5.99% could reduce your monthly amortisation by over 3,000 pesos — that's real money back in your pocket every single month. The total interest savings over the remaining loan life can easily exceed 500,000 pesos. Nook works as the Philippines' first digital mortgage broker, comparing offers from over a dozen banks so you don't have to chase each one individually. The service is 100% free to borrowers — Nook is compensated by the bank you ultimately choose.
Many borrowers assume refinancing is complicated, expensive, or only worth it for large loans. In reality, the process has become far more streamlined, and Nook handles most of the legwork on your behalf. Whether your current loan is with DBP, PBCOM, or any other lender, the key question is simple: is your current rate still competitive? If you're paying above 7%, the answer is almost certainly no. Nook can assess your situation, identify the best available offer, and walk you through the application — with no fees charged to you at any stage.
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
DBP and PBCOM home loan rates generally range from 7.5% to 9.5% p.a. depending on the fixed-rate period and when your loan was taken out. These rates are significantly higher than the best refinancing rates currently available in the market, which start at 5.99% p.a. through Nook. If you haven't reviewed your rate recently, you may be paying more than necessary.
Yes — refinancing from DBP or PBCOM to another bank is a straightforward process and a very common reason borrowers come to Nook. You are not locked in permanently to your current lender, especially if your fixed-rate period has ended or is approaching repricing. Nook will compare offers from multiple banks and help you switch to the one that gives you the best deal.
There are some standard costs involved in any refinancing, including a cancellation fee from your current bank, appraisal fees, and notarial and documentary stamp taxes on the new loan. However, Nook's brokerage service is completely free to you as the borrower — we are paid by the bank you choose. In most cases, the monthly savings from a lower rate will recover any upfront costs within 12 to 18 months.
The general rule of thumb is that refinancing is worthwhile if you can reduce your interest rate by at least 1 to 1.5 percentage points and you plan to stay in the property for at least three more years. If your current DBP or PBCOM rate is above 7.5%, you are likely to benefit significantly from switching. Nook provides a free assessment so you can see your actual potential savings before committing to anything.
The standard documents required include a valid government-issued ID, proof of income (payslips or ITR for employed borrowers, financial statements for self-employed), your latest Statement of Account from your current bank, and the title documents for your property. Nook's team will guide you through the full checklist once you submit your initial inquiry. If you want a head start, the BPI housing loan requirements guide gives a good overview of what most Philippine banks typically ask for.
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