Filipino homeowners are leaving thousands of pesos on the table by sticking with their original bank. Compare all major Philippine home loan lenders side by side — and see how much you could save by switching.
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Why this matters
With so many banks offering home loans in the Philippines — BDO, BPI, Metrobank, Security Bank, RCBC, UnionBank, Chinabank, PSBank, PNB, EastWest Bank, and Pag-IBIG — choosing the right lender can feel overwhelming. Interest rates, fixing periods, processing fees, and approval timelines all vary significantly from one institution to the next. A rate difference of even 1% on a 3,000,000 peso loan can translate to tens of thousands of pesos in extra payments every single year. That's why comparing lenders before you commit — or before you renew — is one of the smartest financial moves a Filipino homeowner can make. If you want to go deeper on two of the biggest players, our BDO vs BPI housing loan interest rates comparison breaks down their terms in detail.
Most homeowners took out their mortgage years ago when rates were higher, or during a promotional fixing period that has since expired — leaving them on a reversion rate that can climb as high as 10% per annum. Refinancing means replacing your existing loan with a new one at a lower interest rate, ideally with better terms. Through Nook, the Philippines' first digital mortgage broker, you can access the best available rates across all major lenders without paying a single peso in broker fees. The entire process is handled online, from document submission to bank matching. For a head-to-head look at two popular refinance options, see our BPI vs Security Bank home loan rates comparison.
Whether you're currently with a government-backed lender like Pag-IBIG or a private commercial bank, refinancing to a rate as low as 5.99% per annum can dramatically reduce your monthly amortisation. On a 3,000,000 peso loan with 20 years remaining, dropping from 8.50% to 5.99% saves over 3,800 pesos every month. Over the life of your loan, that's nearly 700,000 pesos staying in your pocket instead of going to the bank. Nook does the heavy lifting — comparing lenders, preparing your application, and negotiating on your behalf — all at zero cost to you.
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
Rates change frequently and vary depending on your loan amount, fixing period, and credit profile, so no single bank is always the cheapest for every borrower. Through Nook, the lowest available refinance rate is currently 5.99% per annum. The best way to find your lowest rate is to let Nook compare all major lenders against your specific situation at no cost.
A fixed rate locks your interest rate — and therefore your monthly payment — for a set period, typically 1, 2, 3, 5, or 10 years. After the fixing period ends, the rate reverts to the bank's prevailing rate, which is usually higher. A variable rate fluctuates with market conditions, offering potential savings but less predictability in your monthly budget.
Look beyond the headline interest rate and compare the Annual Percentage Rate (APR), which includes fees and charges. Also factor in the fixing period length, reversion rate after fixing, processing fees, appraisal costs, and how quickly each bank approves loans. Nook simplifies this by presenting all lender offers side by side so you can make a truly informed decision.
In most cases, yes — especially if your current rate is above 7% and you have more than 10 years remaining on your loan. The monthly savings from a lower rate compound significantly over a long remaining term. Nook can run a personalised savings calculation for free so you can see exactly whether refinancing makes financial sense for your situation.
No — Nook's service is completely free for borrowers. Nook earns a referral fee from the bank when your loan is successfully placed, which means you get expert mortgage brokering, lender comparison, and application support at zero cost to you. There are no hidden charges or obligations for using the comparison tool.
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