First Metro Investment vs Metrobank: Home Loan Overview
First Metro Investment Corporation (FMIC) is the investment banking arm of Metrobank Group. While FMIC is primarily known for capital markets, securities, and investment products, its home loan offerings are closely tied to the broader Metrobank ecosystem. Metrobank itself is one of the Philippines' largest universal banks and a well-established player in the home loan market.
Important note: Neither First Metro Investment nor Metrobank is currently a Nook partner bank. The rate information presented below is approximate, based on publicly available data, and is subject to change without notice. Borrowers should verify current rates directly with each institution before making any financial decisions.
| Feature | First Metro Investment | Metrobank |
|---|---|---|
| Loan Type | Home loan / housing loan | Home loan / housing loan |
| Typical Interest Rate | Approx. 7%–9.5% p.a. (indicative) | Approx. 7%–9.5% p.a. (indicative) |
| Loan Amount | Varies; typically from 1,000,000 | From 1,000,000 and above |
| Loan Term | Up to 20 years | Up to 25 years |
| Fixing Periods | 1, 2, 3, 5 years (indicative) | 1, 2, 3, 5, 10 years (indicative) |
| Processing Fee | Varies; check directly with FMIC | Typically charged; verify with bank |
| Appraisal Fee | Charged separately | Charged separately |
| Relationship with Nook | Not a Nook partner bank | Not a Nook partner bank |
Interest Rate Comparison: What You Might Actually Pay
For most Filipino homeowners, the interest rate is the single biggest factor affecting total loan cost. Here's a rough illustration of how rates from these two institutions compare against the best rate currently available through Nook's partner banks.
Assuming a loan amount of 3,000,000 over 20 years:
| Lender | Indicative Rate | Est. Monthly Payment | Est. Total Interest Paid |
|---|---|---|---|
| First Metro Investment | ~8.5% p.a. | ~26,035 | ~3,248,400 |
| Metrobank | ~8.5% p.a. | ~26,035 | ~3,248,400 |
| Nook Partner Bank | 5.99% p.a. | ~21,488 | ~2,157,120 |
At 5.99% p.a. versus 8.5% p.a., the potential savings over the life of a 3,000,000 loan exceed 1,000,000 — a significant difference that makes comparing options well worth your time. These figures are illustrative; actual payments depend on your specific loan terms, fixing period, and lender-assessed rate.
If you're also evaluating other major banks, our guide on BPI vs Metrobank home loan rates offers a useful benchmark for understanding where Metrobank sits relative to the wider market.
First Metro Investment Home Loan: What You Need to Know
First Metro Investment's home loan product is primarily accessible through the Metrobank branch network and affiliated channels. As the investment banking arm of the Metrobank Group, FMIC's core business is capital markets rather than retail lending, meaning its home loan product line may be more limited in scope compared to a full-service universal bank.
- Target borrowers: May suit existing FMIC or Metrobank clients looking for bundled financial services
- Rate fixing: Typically offers short to medium fixing periods; rates reset upon repricing
- Eligibility: Standard Philippine home loan criteria apply — stable income, clean credit history, property within acceptable location and condition
- Processing time: Can vary; FMIC is not primarily a retail lender, so turnaround may differ from a standard universal bank
- Documentation: Expect standard requirements: government-issued ID, proof of income, TCT/CCT, tax declarations, and property documents
Verdict on FMIC: While FMIC is a credible institution backed by the Metrobank Group, its home loan offering is less prominent in the market compared to standalone retail banks. If you're considering FMIC, it's worth asking whether the rates and terms are truly differentiated from Metrobank's standard home loan — in many cases, they may be comparable or even identical.
Metrobank Home Loan: What You Need to Know
Metrobank is one of the Philippines' top universal banks and has a well-established home loan division with branches nationwide. It is a common choice for refinancers and first-time homebuyers who already bank with Metrobank or who prefer the stability of a large institution.
- Loan amounts: From 1,000,000 and above, subject to property valuation
- Loan terms: Up to 25 years, giving more flexibility for lower monthly payments
- Fixing periods: Multiple options from 1 year up to 10 years; rates vary by fixing period chosen
- Repricing risk: Like all Philippine banks, rates reset at the end of each fixing period — if market rates rise, your monthly payment increases
- Fees: Metrobank charges processing fees, appraisal fees, and documentary stamp taxes; borrowers should request a full fee disclosure before signing
- Refinancing: Metrobank accepts refinancing applications, including from borrowers with existing loans at other banks
For a deeper comparison of Metrobank against another major lender, see our detailed breakdown of BPI vs Metrobank home loans in 2026, which covers fixing periods, fees, and eligibility in detail.
Fees and Hidden Costs: What to Watch Out For
Interest rates are only part of the story. When comparing First Metro Investment and Metrobank home loans — or any home loan — you need to account for all upfront and ongoing fees.
| Fee Type | First Metro Investment | Metrobank |
|---|---|---|
| Processing Fee | Verify directly with FMIC | Typically charged; amount varies |
| Appraisal / Inspection Fee | Charged | Charged |
| Documentary Stamp Tax | Borrower's responsibility | Borrower's responsibility |
| Mortgage Registration Fee | Borrower's responsibility | Borrower's responsibility |
| Notarial Fees | Charged | Charged |
| Cancellation / Prepayment Penalty | May apply within fixing period | May apply within fixing period |
One major advantage of refinancing through Nook is that Nook's broker service is completely free to the borrower. There are no broker fees, no application fees charged by Nook, and no hidden costs. You get access to multiple lender offers in one place without the legwork of approaching each bank individually.
Refinancing: Is It Worth Switching from FMIC or Metrobank?
If you currently have a home loan with First Metro Investment or Metrobank, you may be approaching a repricing date — the point at which your interest rate is reset to the current market rate. This is often the best time to refinance, because you can switch lenders without facing a prepayment penalty.
Here's a quick checklist to see if refinancing makes sense for you:
- ✅ Your current rate is above 7% p.a.
- ✅ You have at least 3–5 years remaining on your loan
- ✅ Your outstanding loan balance is at least 1,000,000
- ✅ Your property is in good condition and has a clear title
- ✅ You have stable income and a clean credit record
If most of these apply, refinancing to a lender offering 5.99% p.a. through Nook could result in significant monthly savings. For example, on a 5,000,000 loan at 8.5% vs 5.99% over 20 years, the monthly difference alone is approximately 8,900 — that's over 100,000 per year back in your pocket.
Nook handles the comparison, negotiation, and application coordination at no cost to you. There is no obligation to proceed, and no upfront fees to find out how much you could save.
Eligibility Requirements: Who Qualifies?
Both First Metro Investment and Metrobank follow standard Philippine home loan eligibility criteria. Requirements are broadly similar across most banks, though specific thresholds may differ.
| Requirement | First Metro Investment | Metrobank |
|---|---|---|
| Age at application | Typically 21–65 years old | Typically 21–65 years old |
| Employment status | Employed, self-employed, or OFW | Employed, self-employed, or OFW |
| Minimum income | Verify directly with FMIC | Verify directly with Metrobank |
| Property type | Residential (house and lot, condo) | Residential (house and lot, condo, lot only) |
| Credit history | Clean record required | Clean record required |
| Loan-to-value (LTV) | Typically up to 80% of appraised value | Typically up to 80% of appraised value |
Note: All eligibility criteria are subject to change. Contact First Metro Investment or Metrobank directly for the most current requirements.
Not sure which bank suits you?
Nook compares offers from 15+ banks for free. See your personalised options.
Compare My Options →Frequently Asked Questions
Is First Metro Investment the same as Metrobank for home loans?
Not exactly. First Metro Investment Corporation (FMIC) is the investment banking subsidiary of Metrobank Group, focused primarily on capital markets and investment services. While it does offer home loan products — often accessible through Metrobank branches — its core business is not retail lending. Metrobank, the parent company, is the main retail home loan provider in the group. In practice, the products and rates may be very similar or even identical, so it's worth clarifying with the institution exactly which entity will be servicing your loan.
What are the current home loan rates at Metrobank?
Metrobank's home loan rates are not a Nook partner product, so we cannot provide verified, real-time rates. Based on publicly available information, Metrobank's indicative rates typically range from approximately 7% to 9.5% p.a., depending on the fixing period chosen and prevailing market conditions. These rates are subject to change at any time. Always request an official rate quote directly from Metrobank before making any decisions.
What is the best home loan rate available in the Philippines right now?
The best refinance rate currently available through Nook's partner banks is 5.99% p.a. This is significantly lower than the 7%–10% most Filipino homeowners are currently paying. Since Nook is a free broker service, there's no cost to check whether you qualify for this rate.
Can I refinance my Metrobank home loan through Nook?
Yes. If you currently have a home loan with Metrobank (or First Metro Investment), you can apply to refinance through Nook's partner banks. Nook will help you compare offers, prepare your application, and coordinate with the new lender — all at no cost to you. The best time to refinance is typically near your repricing date, when you can switch without incurring prepayment penalties.
How much can I save by refinancing from Metrobank to a Nook partner bank?
The savings depend on your outstanding loan balance, remaining term, and current rate. As an illustration: on a 3,000,000 loan with 20 years remaining, refinancing from 8.5% p.a. to 5.99% p.a. could reduce your monthly payment by approximately 4,500 and save over 1,000,000 in total interest. Use Nook's free refinance calculator to get an estimate based on your specific loan details.
How long does the refinancing process take in the Philippines?
The refinancing process in the Philippines typically takes 4 to 8 weeks, depending on the lender, completeness of documents, and property appraisal schedule. Nook helps streamline this process by guiding you through document preparation and coordinating directly with the lender on your behalf, which can significantly reduce back-and-forth delays.
Are there penalties for refinancing out of First Metro Investment or Metrobank?
Most Philippine home loans include a prepayment penalty if you pay off the loan early within the fixed-rate period. This is typically 1%–2% of the outstanding balance. However, if you refinance at or after your repricing date, penalties may not apply. Check the terms of your existing loan agreement or contact your current lender to confirm whether a penalty applies before proceeding.
Is Nook's refinancing service really free?
Yes. Nook is the Philippines' first digital mortgage broker and its service is 100% free to borrowers. Nook earns a referral fee from partner banks upon successful loan disbursement — this does not affect the rate or terms you receive. There are no broker fees, no application fees, and no obligation to proceed after comparing offers.