First Metro Investment vs Landbank: Home Loan Overview
Before diving into the numbers, it's important to understand what each institution actually offers for home loans.
First Metro Investment Corporation (FMIC) is the investment banking subsidiary of Metrobank. While it is a major financial institution in the Philippines, FMIC's core business is investment banking, capital markets, and corporate finance — not retail home lending. Individual borrowers looking for a standard home purchase or refinance loan would typically go through Metrobank directly rather than through FMIC. If you have been quoted a home loan under the First Metro Investment brand, we recommend confirming the exact product and entity you are dealing with.
Landbank of the Philippines (LBP), on the other hand, is a full-service government-owned bank that actively offers retail home loans to individual borrowers. It is a well-known lender for government employees, farmers, and the general public, and operates hundreds of branches nationwide.
Note: All rates and figures shown for Landbank are approximate, based on publicly available information, and are subject to change without notice. Borrowers should verify current rates directly with Landbank before making any financial decisions.
Interest Rate Comparison
| Feature | First Metro Investment | Landbank | Nook Partner Banks |
|---|---|---|---|
| Indicative Home Loan Rate | Not a standard retail home loan product | Approx. 7.00%–9.50% p.a. (varies by fixing period) | From 5.99% p.a. (verified) |
| Rate Type | N/A for retail | Fixed for 1, 2, 3, 5, or 10 years; reprices thereafter | Fixed periods available; competitive repricing rates |
| Rate Transparency | Rates not publicly listed for retail home loans | Approximate rates publicly available; subject to change | Verified, up-to-date rates through Nook |
For a ₱3,000,000 home loan over 20 years, the monthly payment difference between 9.50% and 5.99% is significant:
- At 9.50% p.a.: Approximately ₱27,990 per month
- At 5.99% p.a.: Approximately ₱21,490 per month
- Monthly savings: Approximately ₱6,500
- Total savings over 20 years: Approximately ₱1,560,000
Even compared to Landbank's lower end of around 7.00%, refinancing to 5.99% through a Nook partner bank saves approximately ₱2,700 per month on a ₱3,000,000 loan — that's over ₱648,000 across a 20-year term.
Eligibility and Application Process
| Criteria | First Metro Investment | Landbank | Nook Partner Banks |
|---|---|---|---|
| Target Borrower | Corporate and institutional clients primarily | Individual borrowers, gov't employees, OFWs, general public | Individual homeowners seeking refinance |
| Minimum Loan Amount | Not applicable for retail | Approx. ₱500,000 (varies by program) | Varies by partner bank; typically ₱1,000,000+ |
| Maximum Loan Term | N/A for retail | Up to 25 years | Up to 25 years |
| OFW Borrowers | N/A | Accepted with additional documentation | Accepted (varies by partner bank) |
| Application Channel | No standard retail application process | Branch-based; online inquiry available | 100% online via Nook; free broker assistance |
Fees and Charges
All fee information for Landbank is approximate and based on publicly available data. Confirm exact fees with the bank directly.
| Fee | First Metro Investment | Landbank | Nook Partner Banks |
|---|---|---|---|
| Processing Fee | N/A for retail | Approx. ₱5,000–₱10,000 | Varies by partner bank |
| Appraisal Fee | N/A for retail | Charged separately; varies by property value | Varies by partner bank |
| Broker / Facilitation Fee | N/A | None (apply direct) | 100% FREE — Nook charges borrowers nothing |
| Penalty for Early Payoff | N/A | Typically 1%–3% of outstanding balance within lock-in period | Varies by partner bank; disclosed upfront |
Why Most Borrowers Choose to Refinance Instead
If you are currently paying a Landbank home loan rate of 8% or higher, refinancing could be one of the most impactful financial decisions you make this year. Through Nook, you can access verified rates from multiple partner banks in one free application — no branch visits, no broker fees, and no obligation.
You might also want to read our Bank of Commerce vs Landbank comparison to see how other lenders stack up against LBP, or explore the Landbank vs Pag-IBIG comparison if you are considering a government-backed refinance alternative.
Here's a quick illustration of refinancing savings on common loan amounts, moving from a typical Landbank rate of 8.50% to Nook's best available rate of 5.99%:
| Loan Amount | Remaining Term | Monthly Payment at 8.50% | Monthly Payment at 5.99% | Monthly Savings | Total Savings |
|---|---|---|---|---|---|
| 1,500,000 | 20 years | 13,005 | 10,745 | 2,260 | 542,400 |
| 3,000,000 | 20 years | 26,010 | 21,490 | 4,520 | 1,084,800 |
| 5,000,000 | 20 years | 43,350 | 35,817 | 7,533 | 1,807,920 |
| 8,000,000 | 20 years | 69,360 | 57,307 | 12,053 | 2,892,720 |
Calculations are illustrative estimates for comparison purposes only. Actual rates and payments will vary based on your loan profile, lender assessment, and prevailing market conditions.
Is First Metro Investment the Right Choice for a Home Loan?
In short: for most individual borrowers, First Metro Investment is not the right entity to approach for a personal home loan. Its products and services are geared toward institutional clients and corporate transactions. If you are interested in a Metrobank-affiliated home loan product, applying directly through Metrobank — or through Nook, which can access Metrobank and other partner bank rates on your behalf — is the more appropriate path.
If you are comparing Landbank against other government or semi-government options, you may also find our GoTyme vs Landbank comparison useful as a reference point for how digital-first lenders are positioning themselves in this space.
Not sure which bank suits you?
Nook compares offers from 15+ banks for free. See your personalised options.
Compare My Options →Frequently Asked Questions
Does First Metro Investment offer home loans to individual borrowers?
Generally, no. First Metro Investment Corporation (FMIC) is primarily an investment bank focused on corporate finance and capital markets. Individual borrowers looking for retail home loans should approach Metrobank directly, or use a service like Nook to compare multiple lenders at once — for free.
What are Landbank's current home loan interest rates?
Landbank's home loan rates are approximately 7.00% to 9.50% per annum depending on the fixing period and loan program, based on publicly available information. These rates are subject to change, and you should verify the current rates directly with Landbank or at their nearest branch before making a decision.
Can I refinance my Landbank home loan through Nook?
Yes. If you currently have a home loan with Landbank, Nook can help you explore refinancing options with partner banks offering rates as low as 5.99% p.a. The service is completely free to borrowers, and Nook will handle the comparison and application process on your behalf.
How much can I save by refinancing from Landbank to a Nook partner bank?
Savings depend on your remaining loan balance, term, and current rate. As an example, if you have a ₱3,000,000 loan at 8.50% with 20 years remaining, refinancing to 5.99% could save you approximately ₱4,520 per month — or over ₱1,000,000 across the remaining term. Use Nook's free tools to get an estimate based on your actual loan details.
Is Nook's mortgage broker service really free?
Yes, completely. Nook is the Philippines' first digital mortgage broker, and its service costs borrowers nothing. Nook is compensated by the partner banks, not by you. This means you can get expert guidance and access to multiple lender offers without paying a single peso in broker fees.
What documents do I need to refinance a Landbank home loan?
Typical documents for refinancing include your latest Landbank loan statement, proof of income (payslips, ITR, or business financials for self-employed borrowers), valid government-issued IDs, and your property title documents. Nook will guide you through the exact requirements based on the partner bank you choose.
How does Landbank's home loan compare to Pag-IBIG?
Both are government-backed lending institutions, but they serve different borrower profiles. Pag-IBIG (HDMF) requires active membership contributions and is often favored for its lower rates on smaller loans. Landbank may offer more flexibility for higher loan amounts. See our detailed Landbank vs Pag-IBIG comparison for a full breakdown.