Homeowners with a First Metro Investment Bank home loan could be paying thousands more than necessary each month. Nook helps you refinance to rates as low as 5.99% p.a. — completely free.
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No commitment. No credit check. Just your numbers.
Why this matters
First Metro Investment Bank (FMIC) is primarily known as an investment house and financial services firm, but some borrowers find themselves holding home loans through FMIC or affiliated arrangements. If your loan was originated through FMIC or a related entity, there's a strong chance your interest rate hasn't been reviewed in years — and the Philippine lending market has evolved considerably. Current mortgage interest rates in the Philippines now allow qualified borrowers to lock in rates well below 8%, making refinancing a genuinely compelling financial move.
Refinancing means transferring the outstanding balance of your home loan to a new bank that offers a lower interest rate and better terms. On a 3,000,000-peso loan with 20 years remaining, dropping from 8.50% to 5.99% translates to over 3,000 pesos back in your pocket every single month. That's money you can redirect toward your children's education, emergency savings, or even paying down your principal faster. The process involves a new bank appraising your property, reviewing your income documents, and settling your existing loan balance on your behalf.
Many borrowers hesitate because they assume refinancing is complicated, expensive, or risky — but Nook was built specifically to remove those barriers. We handle the comparison, paperwork coordination, and bank communication at zero cost to you. Whether your current lender is FMIC, a thrift bank, or a major commercial institution, our team finds the best available offer from across the Philippine banking market. If you're also evaluating other lenders as part of your decision, it's worth reviewing BPI's housing loan requirements to understand what a competitive bank looks for in a refinancing applicant.
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, any existing home loan — regardless of the originating institution — is generally eligible for refinancing as long as you meet the requirements of the receiving bank. FMIC-originated or FMIC-affiliated loans are treated like any other mortgage by Philippine banks, so you can transfer your outstanding balance to a commercial bank offering a lower rate. Nook will assess your situation and match you with the most suitable lender.
The best refinance rate currently available through Nook is 5.99% p.a., though your actual rate will depend on your loan amount, remaining term, property value, and the bank's credit assessment. Most refinancing clients we work with are moving from rates between 7.50% and 9.50%, so the savings tend to be substantial. We recommend getting a formal quote rather than estimating — it takes only a few minutes with Nook.
Nook's service is completely free to the borrower — we are compensated by the bank, not by you. You will still need to budget for standard third-party costs such as appraisal fees, documentary stamp tax, and registration fees, which typically range from 30,000 to 60,000 pesos depending on loan size. These one-time costs are usually recovered within a few months of lower monthly payments.
The typical refinancing timeline is 30 to 60 banking days from complete document submission to loan release, though this varies by bank and property location. Nook helps you prepare your documents correctly the first time, which significantly reduces back-and-forth delays. We also keep you updated at every stage so you're never left wondering where your application stands.
The core documents required include a valid government-issued ID, your latest payslips or ITR (for self-employed borrowers, audited financial statements), a copy of your Transfer Certificate of Title (TCT), and your existing loan statement of account showing the outstanding balance. Your new bank will also require a property appraisal, which they typically arrange directly. Nook provides a complete checklist tailored to your chosen bank once you start your application.
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