Most Filipino homeowners locked in fixed mortgage rates of 8% to 10% — but the best fixed rate available today is just 5.99% p.a. Nook helps you compare every major bank and switch for free.
FIXED RATE SAVINGS EXAMPLE
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Why this matters
Fixed mortgage rates in the Philippines vary significantly from bank to bank — and from year to year. In 2026, headline fixed rates at major lenders like BDO, BPI, Metrobank, and Security Bank range from around 6.5% to 9.5% p.a. depending on the fixing period (typically 1, 2, 3, 5, or 10 years). The shorter the fixed period, the lower the rate — but the sooner your loan reprices, exposing you to whatever rates prevail at that future date. Many homeowners who fixed at 8% or higher during tighter monetary policy cycles are now sitting on rates well above what the market offers. If your fixed period has recently ended or is ending soon, now is the ideal window to refinance.
Understanding how fixed rates work is only half the battle — knowing which bank currently offers the most competitive terms for your loan size, property type, and remaining tenure is where most borrowers get lost. Banks don't always advertise their sharpest rates publicly, and the headline rate is rarely the full story once you factor in annual fees, insurance requirements, and repricing terms. That's why comparing across lenders matters so much. You can use the home loan refinance calculator to model your exact savings based on your current rate and outstanding balance before you even speak to a bank.
Nook works with all the major Philippine banks and processes your refinance application at zero cost to you. Whether you're currently with Pag-IBIG, RCBC, EastWest, or a developer in-house financing arrangement, Nook can assess your options across the full market and handle the paperwork from application to approval. Before you apply, it's worth reviewing the refinance requirements in the Philippines so you have your documents ready and can move quickly when rates are favorable.
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
The lowest fixed mortgage rate currently available through Nook is 5.99% p.a. This is significantly below what most homeowners are paying, particularly those who took out or repriced their loans between 2022 and 2024 when rates were elevated. Availability depends on your loan amount, property type, and financial profile.
Most major banks — including BDO, BPI, Metrobank, Security Bank, PNB, RCBC, UnionBank, and Chinabank — offer fixed-rate periods of 1, 2, 3, 5, and sometimes 10 years. After the fixed period ends, the loan reprices to the bank's prevailing rate at that time. Pag-IBIG (HDMF) offers longer fixed periods and is often competitive for lower loan amounts.
Shorter fixed periods (1–2 years) typically come with lower rates but expose you to repricing risk sooner. Longer fixed periods (5–10 years) offer rate certainty but usually at a slightly higher rate. The right choice depends on your view of where interest rates are heading and how long you plan to hold the property — your Nook advisor can help you model both scenarios.
Yes, but most banks charge a prepayment penalty if you exit a fixed-rate loan before the fixing period expires — typically 1% to 3% of the outstanding balance. In many cases the long-term savings from refinancing to a lower rate still outweigh this cost, especially if your remaining fixed period is short. Nook will calculate whether refinancing now or waiting makes more financial sense for your situation.
Refinancing does involve some third-party costs — such as appraisal fees, documentary stamp tax, and registration charges — but Nook's brokerage service is completely free to the borrower. These closing costs typically range from 1% to 2% of the loan amount and are usually recovered within 12–18 months of lower monthly payments. See the full breakdown in our guide to refinance closing costs in the Philippines.
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