First Metro Investment vs PNB: Understanding What Each Institution Offers
Before comparing rates head-to-head, it's important to understand what each institution actually is. First Metro Investment Corporation (FMIC) is the investment banking arm of Metrobank Group. It specializes in capital markets, corporate finance, and investment products — not retail home loans for individual borrowers. If you've seen the FMIC name in the context of home financing, it may be in relation to bond issuances or wholesale funding, rather than a direct-to-consumer mortgage product.
Philippine National Bank (PNB), on the other hand, is a full-service commercial bank that actively offers home loan products to individual Filipino borrowers. PNB home loans can be used for property purchase, house construction, lot acquisition, or home loan refinancing.
If you are a homeowner comparing institutions for a home loan or refinance, PNB is the relevant competitor — and that is what this page focuses on.
PNB Home Loan Rates at a Glance
Note: The rates below are approximate figures based on publicly available information and are subject to change without notice. Always verify current rates directly with PNB before making any financial decision.
| Fixed Rate Period | PNB Indicative Rate (p.a.) |
|---|---|
| 1-year fixed | ~7.00% – 7.50% |
| 2-year fixed | ~7.25% – 7.75% |
| 3-year fixed | ~7.50% – 8.00% |
| 5-year fixed | ~7.75% – 8.50% |
| 10-year fixed | ~8.50% – 9.50% |
PNB typically offers loan terms of up to 20–25 years, with loan amounts starting at around 500,000 pesos. Borrowers are usually required to have the property appraised by a PNB-accredited appraiser, and documentary requirements follow standard BSP-regulated bank procedures.
For a broader comparison of PNB against other lenders, you may also want to read our Pag-IBIG vs PNB home loan comparison, which is especially relevant for borrowers considering government-backed options.
What Does First Metro Investment Actually Offer for Property?
FMIC does not offer retail home loans in the traditional sense. However, as the investment banking arm of the Metrobank Group, it plays a role in the broader property finance ecosystem — particularly in arranging project financing for developers and participating in real estate investment structures.
For individual homeowners, the practical implication is this: if you want a Metrobank Group product for your home loan, you would go directly to Metrobank itself, not First Metro Investment. FMIC is not a bank and is not regulated to take deposits or offer consumer mortgage products.
This distinction matters because some borrowers searching for "First Metro" home loans may be confused about which entity to approach. The short answer is: contact Metrobank for retail home loan needs.
How Nook Compares to PNB
Nook is the Philippines' first digital mortgage broker, and it works with a panel of partner banks to find you the most competitive refinance rate available. The best rate currently accessible through Nook is 5.99% p.a. — which is meaningfully lower than PNB's standard advertised rates.
Here's what a difference in rate looks like on a real loan:
| Scenario | Loan Amount | Rate | Est. Monthly Payment (20-yr term) | Total Interest Paid |
|---|---|---|---|---|
| PNB (mid estimate) | 3,500,000 | 7.75% p.a. | ~28,900 | ~3,436,000 |
| Nook Best Rate | 3,500,000 | 5.99% p.a. | ~25,050 | ~2,512,000 |
| Potential Savings | — | — | ~3,850/month | ~924,000 |
Over a 20-year loan term, the difference between a 7.75% rate and a 5.99% rate on a 3,500,000 peso loan could amount to approximately 924,000 pesos in total interest savings. Even at shorter loan terms, the monthly cash flow impact is significant.
Nook's service is completely free for borrowers. Nook earns a referral fee from the bank — you pay nothing extra.
Refinancing Away from PNB: Is It Worth It?
If you currently have a home loan with PNB and your fixed-rate period is ending — or has already ended — now is the right time to explore refinancing. When your fixed period lapses, your rate typically resets to the bank's prevailing rate, which may be higher than when you first signed.
Refinancing to a lower rate through Nook could help you:
- Reduce your monthly amortization by thousands of pesos
- Shorten your effective loan term without increasing monthly payments
- Free up monthly cash flow for other financial goals
- Lock in a lower fixed rate for greater payment predictability
The refinancing process through Nook is fully digital and guided — you won't need to chase multiple banks on your own. Nook handles the legwork, and you choose the best offer presented to you.
You might also find our First Metro Investment vs RCBC comparison useful if you're evaluating other banks alongside your refinancing options.
Key Fees and Charges to Watch
Beyond the interest rate, both PNB and any refinancing bank will have associated fees. Here are the common ones to factor into your total cost of borrowing:
| Fee Type | Typical Range | Notes |
|---|---|---|
| Appraisal Fee | 3,500 – 6,000 | Paid upfront; non-refundable |
| Processing / Application Fee | 0 – 5,000 | Varies by bank; some waive this |
| Documentary Stamp Tax | ~1.5% of loan | Government-mandated |
| Mortgage Registration Fee | ~0.25% – 0.5% of loan | Paid to Register of Deeds |
| Notarial Fees | 1,000 – 3,000 | Varies by notary |
| Early Termination Fee (existing loan) | 1% – 3% of outstanding balance | Check your current loan contract |
When refinancing, Nook will help you calculate whether the savings from a lower rate outweigh the one-time costs of switching — so you have a clear break-even timeline before you commit.
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Compare My Options →Frequently Asked Questions
Does First Metro Investment offer home loans to individual borrowers?
No. First Metro Investment Corporation (FMIC) is the investment banking arm of the Metrobank Group and focuses on capital markets and corporate finance. It does not offer retail home loan products to individual consumers. If you are looking for a Metrobank Group home loan, you should apply directly through Metrobank itself.
What are PNB's current home loan interest rates?
PNB's home loan rates are approximately 7.00% to 9.50% per annum depending on the fixed-rate period chosen. Shorter fixed periods (1–2 years) tend to have lower rates, while longer fixed periods (10 years) are higher. These are indicative figures based on publicly available information and are subject to change — always confirm the latest rates directly with PNB.
Can I refinance my PNB home loan through Nook?
Yes. Nook helps homeowners refinance existing home loans — including those with PNB — to lower-rate options through its panel of partner banks. The best rate currently available through Nook is 5.99% p.a., which is significantly lower than PNB's standard rates. Nook's service is 100% free to borrowers.
How much could I save by refinancing from PNB to a lower-rate bank?
On a 3,500,000 peso loan with a 20-year term, switching from a 7.75% rate to 5.99% p.a. could save approximately 3,850 pesos per month and around 924,000 pesos in total interest over the life of the loan. Your actual savings will depend on your outstanding balance, remaining term, and the rate you qualify for.
When is the best time to refinance a PNB home loan?
The best time to refinance is typically at the end of your fixed-rate period, before your loan reprices to PNB's prevailing rate. However, even if you are mid-term, it may still make financial sense depending on the rate difference and the early termination fee in your loan contract. Nook can help you calculate the break-even point for free.
Is Nook's mortgage brokering service really free?
Yes, Nook's service is completely free to borrowers. Nook earns a referral fee from the partner bank when a loan is successfully disbursed — this does not affect the rate or terms offered to you. You get access to competitive rates without paying broker fees.
What documents do I need to refinance my home loan through Nook?
Standard requirements typically include valid government-issued ID, proof of income (payslips, ITR, or audited financial statements for self-employed), your existing loan statement of account, and the Transfer Certificate of Title (TCT) of the property. Nook will guide you through the exact requirements based on your profile and the bank you're applying with.