If you have an existing EastWest Bank home loan, you could be paying more than you need to. Refinancing through Nook takes your rate as low as 5.99% p.a. — and our service is completely free.
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Why this matters
EastWest Bank is a well-regarded home loan lender in the Philippines, and many Filipinos have built their mortgages with them over the years. But like all banks, EastWest's fixed-rate periods eventually reprice — and when they do, your rate can jump significantly. Homeowners who took out loans several years ago are often sitting on rates of 8% to 10%, paying thousands of pesos more each month than they need to. If your fixed period has ended or is ending soon, now is exactly the right time to explore refinancing.
Refinancing means replacing your existing home loan with a new one — ideally at a lower interest rate. Through Nook, you can compare EastWest Bank's current refinancing rates (including their competitive 1-year fixed rate of 5.99% p.a. and 3-year fixed at 6.25% p.a.) alongside offers from other leading Philippine banks, all in one place. You can use the EastWest Bank housing loan calculator to model different scenarios before you commit. Nook's service is 100% free to borrowers — we're paid by the bank, not you.
To qualify for an EastWest Bank refinance, you'll generally need a minimum monthly income of ₱40,000 and a debt-to-income ratio within 40%. EastWest accepts applications from private employees, government workers, BPO employees, OFWs, seafarers, self-employed individuals, and professionals — making it one of the more accessible banks for a wide range of Filipino borrowers. For a full breakdown of who qualifies, see the EastWest Bank housing loan requirements guide. Typical approval takes around 19 days when your documents are complete. Note that interest rates are subject to change — always verify current rates before applying.
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, EastWest Bank does offer refinancing for existing home loans, and in some cases staying with the same bank can simplify the process. However, it's worth comparing EastWest's refinance offer against other banks before deciding — Nook can do this comparison for you at no cost, ensuring you get the best available rate rather than just the most convenient one.
The lowest rate currently available through Nook is 5.99% p.a. on a 1-year fixed term, which is offered by EastWest Bank as a Nook partner. Longer fixed periods are also available — 3-year fixed at 6.25% and 5-year fixed at 6.49% — giving you flexibility depending on how much rate certainty you want. All rates are subject to change, so it's best to check current offers directly through Nook.
Savings depend on your current rate, remaining loan balance, and the new rate you qualify for. For a ₱3,000,000 loan with 20 years remaining, switching from 8.50% to 5.99% could reduce your monthly payment by roughly ₱3,900 — that's over ₱47,000 per year and potentially more than ₱700,000 over the life of the loan. Use Nook's free assessment to get a personalised savings estimate based on your actual loan details.
Refinancing typically involves costs such as appraisal fees, documentation fees, and possibly a penalty if you're breaking a fixed-rate period early with your current bank — it's important to check your loan agreement first. That said, for most borrowers whose fixed period has already ended, these costs are easily outweighed by the monthly savings from a lower rate. Nook's broker service itself is completely free to you.
EastWest Bank's typical approval timeline is around 19 days from the time your documents are fully submitted. Having your paperwork in order — income documents, property title, tax declarations, and current loan statement — can significantly speed things up. Nook's team will guide you through exactly what's needed and help you submit a complete application the first time.
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