First Metro Investment vs PBCOM: Home Loan Overview
First Metro Investment Corporation (FMIC) is primarily known as the investment banking and capital markets arm of the Metrobank Group. While it operates under a strong parent brand, its direct retail home loan products are more limited compared to a commercial bank like PBCOM (Philippine Bank of Communications). PBCOM, on the other hand, is a full-service commercial bank that actively offers home loans and refinancing products to individual borrowers.
For homeowners looking to refinance an existing home loan, this distinction matters a great deal. PBCOM has a more accessible application process for retail clients, while borrowers seeking products under the FMIC/Metrobank umbrella are typically directed to Metrobank's home loan division directly.
Interest Rate Comparison
| Feature | First Metro Investment | PBCOM |
|---|---|---|
| Indicative Fixed Rate (1-year) | ~7.50% – 8.50% p.a. | ~7.25% – 8.25% p.a. |
| Indicative Fixed Rate (3-year) | ~7.75% – 8.75% p.a. | ~7.50% – 8.50% p.a. |
| Indicative Fixed Rate (5-year) | ~8.00% – 9.00% p.a. | ~7.75% – 8.75% p.a. |
| Best Available via Nook | From 5.99% p.a. | |
Note: Rates shown are indicative ranges based on market data and may vary based on loan amount, term, and borrower profile. Always confirm current rates directly with the bank or through Nook.
The gap between what most borrowers are currently paying (often 7% to 10%) and the best refinance rate available through Nook (5.99% p.a.) is significant. On a loan of 3,000,000 over 20 years, moving from 8.50% to 5.99% could save you approximately 14,000 to 17,000 per month in repayments.
Fees and Charges
| Fee Type | First Metro Investment | PBCOM |
|---|---|---|
| Processing Fee | Varies / Upon inquiry | ~5,000 – 10,000 (estimated) |
| Appraisal Fee | Charged to borrower | Charged to borrower |
| Legal / Notarial Fees | Charged to borrower | Charged to borrower |
| Early Repayment Penalty | May apply within fixed period | May apply within fixed period |
| Mortgage Redemption Insurance (MRI) | Required | Required |
| Nook Broker Fee | Free (100% free to borrower) | |
One important note: using Nook to find and apply for your refinance costs you nothing. Nook is compensated by the bank, not the borrower — so you get expert guidance and access to multiple lenders without paying a single peso in broker fees.
Loan Terms and Eligibility
| Criteria | First Metro Investment | PBCOM |
|---|---|---|
| Minimum Loan Amount | Upon inquiry | ~1,000,000 – 1,500,000 |
| Maximum Loan Amount | Upon inquiry | Up to 80% of appraised value |
| Loan Tenure | Up to 20 years | Up to 20 years |
| Eligible Borrowers | Filipino citizens, select profiles | Filipino citizens & resident foreigners |
| OFW Applications | Limited / case-by-case | Accepted with requirements |
| Refinancing Available | Limited retail offering | Yes |
PBCOM's more defined retail home loan framework gives it an advantage for straightforward refinancing transactions. If you're currently with PBCOM or considering them, you may also want to review how they stack up against other challengers — our comparison of PBCOM vs Sterling Bank home loan rates offers useful additional context.
Application Process
First Metro Investment
As an investment bank, FMIC's home loan application process is less standardized for retail borrowers. Prospective applicants often need to inquire directly or be referred through relationship managers. This can mean longer turnaround times and less price transparency upfront — a real drawback when you're trying to move quickly on a refinance.
PBCOM
PBCOM operates as a commercial bank with a more defined retail lending process. Borrowers can apply through branches or online, and PBCOM provides clearer documentation checklists. Still, like most Philippine banks, the process can take 4 to 8 weeks from application to loan release.
Applying Through Nook
Nook streamlines the entire process. You submit one set of documents, and Nook submits your application to multiple lenders simultaneously — including PBCOM and others. This means you can compare actual offers in real time and pick the best deal. No branch visits, no guesswork.
Savings Calculator Example
To illustrate the potential savings from refinancing, here's a comparison for a 4,000,000 home loan over 20 years:
| Scenario | Rate | Est. Monthly Payment | Total Interest Paid |
|---|---|---|---|
| Current loan (typical) | 8.50% p.a. | ~34,660 | ~4,318,400 |
| PBCOM refinance (est.) | 7.75% p.a. | ~32,820 | ~3,876,800 |
| Best via Nook | 5.99% p.a. | ~28,620 | ~2,868,800 |
Refinancing to 5.99% p.a. through Nook could save you approximately 6,040 per month compared to your current 8.50% rate — that's over 1,449,600 in total interest savings over the life of the loan. For more context on how digital-first lenders are reshaping the market, see our guide on GoTyme vs SB Finance home loan rates.
Who Should Consider Each Bank?
Consider First Metro Investment if…
- You already have an existing relationship with the Metrobank Group or FMIC
- You're working with a wealth manager or relationship banker who can facilitate the loan
- You're looking for a bespoke, high-value financing arrangement
Consider PBCOM if…
- You want a commercial bank with a standard retail home loan process
- You need a lender that accepts OFW applications
- You prefer branch-based support combined with online tools
Consider Nook if…
- You want to compare both banks (and 10+ others) in one place
- You want access to rates as low as 5.99% p.a. without paying broker fees
- You want a faster, more transparent refinancing experience
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 arm of the Metrobank Group, focused primarily on capital markets and corporate finance. For retail home loans, Metrobank's commercial banking arm handles those products. If you're interested in home loan products under the Metrobank umbrella, it's best to approach Metrobank directly — or let Nook compare all available options for you.
Does PBCOM offer home loan refinancing in the Philippines?
Yes, PBCOM (Philippine Bank of Communications) offers home loan refinancing for eligible Filipino borrowers. Their refinancing products allow you to move your existing home loan from another bank to PBCOM, potentially at a lower interest rate. You can also compare PBCOM's offering against other lenders through Nook at no cost.
What is the best home loan refinance rate available in the Philippines right now?
The best refinance rate currently available through Nook is 5.99% per annum. This is significantly lower than the 7% to 10% that many Filipino homeowners are currently paying. Rates depend on your loan amount, remaining term, property type, and credit profile.
How much can I save by refinancing from 8.50% to 5.99%?
The savings can be substantial. For a 4,000,000 loan over 20 years, moving from 8.50% to 5.99% could reduce your monthly repayment by approximately 6,040 — and save you over 1,449,600 in total interest over the life of the loan. Use Nook's free calculator to estimate your personal savings.
Is Nook's home loan brokerage service really free?
Yes, completely free for borrowers. Nook is compensated by the lending bank when a loan is successfully placed, not by you. This means you get access to multiple lenders, expert guidance, and the best available rates — all without paying broker fees or commissions.
How long does home loan refinancing take in the Philippines?
The typical timeline for refinancing in the Philippines is 4 to 8 weeks from application submission to loan release, depending on the bank and how quickly you can provide the required documents. Nook helps speed this up by preparing your documents correctly the first time and submitting to multiple banks simultaneously, so you're not waiting in line at one bank only to be declined.
What documents do I need to refinance my home loan?
Generally, you'll need a valid government-issued ID, proof of income (payslips, ITR, or audited financial statements for self-employed), your existing loan statement of account, the Transfer Certificate of Title (TCT) or Condominium Certificate of Title (CCT), a tax declaration, and proof of property insurance. Nook provides a personalized checklist based on your profile to make sure nothing is missing.