Most Philippine homeowners are locked into fixed rates of 8% to 10% — but the best fixed mortgage rate available today is just 5.99% p.a. Nook compares every bank so you don't have to, for free.
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Why this matters
Fixed mortgage rates in the Philippines vary significantly from bank to bank — and the lock-in period you choose (1, 3, 5, or 10 years) can make a dramatic difference to your monthly repayment. In 2026, rates across BDO, BPI, Metrobank, Security Bank, RCBC, and other major lenders typically range from around 6.5% to over 10% depending on the fixing period, your loan-to-value ratio, and your credit profile. The longer the fixed period, the higher the rate tends to be — but not always. That's why comparing across all banks simultaneously is essential before you commit. Use the home loan refinance calculator to see exactly what switching your fixed rate could save you.
If your current fixed-rate period is ending soon — or has already ended and rolled onto a variable rate — you are almost certainly paying more than you need to. This is the ideal window to refinance. Through Nook, Filipino homeowners can access the market's most competitive fixed rates starting at 5.99% p.a., submitted across multiple lenders simultaneously with a single application. There are no broker fees and no obligation. Before you apply, it's worth reviewing the home loan refinance requirements so you know exactly what documents to prepare.
Choosing the right lock-in period is a strategic decision. A 1-year fixed rate gives you flexibility to renegotiate sooner, while a 5- or 10-year fix offers payment certainty in a volatile rate environment. Neither is universally better — it depends on your financial goals, how long you plan to stay in the property, and where rates are heading. Nook's mortgage specialists help you weigh these trade-offs and match you with the bank offering the best fixed rate for your specific loan size, term, and profile.
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
A fixed mortgage rate means your interest rate is locked in at a set percentage for an agreed period — typically 1, 3, 5, or 10 years — so your monthly repayment stays the same regardless of market movements. After the fixed period ends, your loan usually reverts to the bank's prevailing rate or a variable rate, which is why many borrowers refinance at that point. Philippine banks offer a range of fixed-rate products, and the rate you're offered depends on the lock-in period, your loan amount, and the bank's current pricing.
There is no single answer — the best fixed mortgage rate depends on your loan amount, remaining term, property type, and the lock-in period you prefer. In 2026, competitive fixed rates are being offered by BPI, Security Bank, RCBC, Chinabank, and several others, with the lowest available rate through Nook at 5.99% p.a. The only reliable way to find the best rate for your situation is to compare across all banks at once, which is exactly what Nook does for free.
A 5-year fixed rate gives you payment certainty for longer, which is valuable if rates are expected to rise or if you want to budget without surprises. A 1-year fixed rate is usually lower initially but exposes you to repricing risk sooner. The right choice depends on your risk tolerance, how long you plan to keep the property, and your view on where Philippine interest rates are heading.
Yes, but you will likely face a prepayment penalty from your current bank, which is typically 1% to 3% of the outstanding loan balance during the lock-in period. It can still make financial sense to refinance early if the savings from a lower rate outweigh the penalty — especially on larger loan amounts. Nook can help you calculate the break-even point so you can make an informed decision.
Nook's service is completely free to borrowers — there are no broker fees or consultation charges at any stage. You will still need to budget for standard refinancing costs such as appraisal fees, notarial fees, and mortgage registration, which typically total between 1% and 2% of the loan amount. For a full breakdown of what to expect, see our guide on home loan refinance closing costs in the Philippines.
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