Philippine Home Loan Rates Compared: 2026 Overview
Home loan interest rates in the Philippines vary significantly from bank to bank — and even from borrower to borrower within the same bank. The table below shows indicative fixed rates for a typical home loan of 3,000,000 pesos over a 20-year term, based on publicly available data and Nook's market research as of 2026.
| Bank | 1-Year Fixed Rate | 3-Year Fixed Rate | 5-Year Fixed Rate | Est. Monthly Payment* |
|---|---|---|---|---|
| Nook Best Rate | 5.99% | 5.99% | 5.99% | 21,486 |
| BDO | 6.50% | 6.75% | 7.00% | 22,328 |
| BPI | 6.25% | 6.50% | 6.75% | 22,051 |
| Metrobank | 6.75% | 7.00% | 7.25% | 22,607 |
| Security Bank | 6.50% | 6.75% | 7.00% | 22,328 |
| RCBC | 6.75% | 7.00% | 7.25% | 22,607 |
| UnionBank | 7.00% | 7.25% | 7.50% | 22,888 |
| PNB | 7.25% | 7.50% | 7.75% | 23,172 |
| Chinabank | 7.00% | 7.25% | 7.50% | 22,888 |
| EastWest Bank | 7.50% | 7.75% | 8.00% | 23,458 |
| PSBank | 7.75% | 8.00% | 8.25% | 23,746 |
| Pag-IBIG (HDMF) | 5.75% | 6.00% | 6.25% | 21,197 |
*Monthly payment estimates are based on a loan amount of 3,000,000 pesos over a 20-year term at the 5-year fixed rate shown. Actual rates depend on your loan amount, LTV ratio, income, credit profile, and the bank's current offerings. Rates are indicative and subject to change.
BDO Home Loan: What You Need to Know
BDO Unibank is the largest bank in the Philippines by assets, and its home loan product is one of the most widely used in the country. BDO offers financing for house and lot purchases, condominium units, townhouses, vacant lots, and home construction.
BDO Home Loan Highlights
- Loan amount: Minimum 300,000 pesos; up to 80% of appraised property value
- Loan term: Up to 25 years
- Interest rates: Fixed for 1, 2, 3, 5, or 10 years, then repriced
- Eligible borrowers: Filipino citizens and select foreign nationals; employed or self-employed
- Special feature: BDO's wide branch network makes document submission convenient; existing BDO account holders may enjoy faster processing
BDO Home Loan: Pros and Cons
Pros
- Large nationwide branch and ATM network for easy servicing
- Accepts a wide range of property types including raw land
- Flexible repayment terms up to 25 years
- Available to OFWs with proper documentation
Cons
- Rates are not always the most competitive, especially on longer fixed periods
- Processing times can be slower than smaller, more agile banks
- Repricing after the fixed period can significantly increase your monthly payments
BPI Home Loan: What You Need to Know
Bank of the Philippine Islands (BPI) is one of the oldest and most respected banks in the country. Its home loan product is known for competitive rates and a streamlined digital application process, making it a popular choice among middle-income and professional borrowers.
BPI Home Loan Highlights
- Loan amount: Minimum 400,000 pesos; up to 80% of appraised value (90% for select properties)
- Loan term: Up to 20 years
- Interest rates: Fixed for 1, 2, 3, 5, or 10 years
- Eligible borrowers: Filipino citizens and resident foreign nationals; employed, self-employed, or OFW
- Special feature: BPI's online application portal allows you to track your loan status in real time
BPI Home Loan: Pros and Cons
Pros
- Generally competitive rates, especially for shorter fixed-rate periods
- Strong digital infrastructure for applications and account management
- Trusted brand with a long track record in housing finance
- Can be combined with BPI's other financial products for convenience
Cons
- Maximum term of 20 years is shorter than some competitors (e.g., BDO's 25 years)
- Stricter income documentation requirements for self-employed borrowers
- Not always the lowest rate available — other banks and Nook's network may beat it
For a direct comparison of these two major banks on the same terms, see our BPI vs Metrobank home loan comparison which breaks down how BPI stacks up against another major competitor.
Metrobank Home Loan
Metropolitan Bank and Trust Company (Metrobank) is one of the Philippines' Big Three banks and offers a comprehensive home loan product targeting both purchase and refinancing borrowers.
Key Features
- Loan amount: Minimum 500,000 pesos; up to 80% of appraised property value
- Loan term: Up to 25 years
- Fixed periods: 1, 2, 3, or 5 years
- Notable: Metrobank often runs promotional rates for developer-tied properties and has strong relationships with major condominium developers
Metrobank's rates tend to be slightly higher than BPI's for comparable loan profiles, which is why many borrowers use Nook to see all their options at once rather than going to Metrobank directly.
Security Bank Home Loan
Security Bank has been aggressively expanding its retail banking footprint and often offers competitive home loan rates to attract new borrowers away from the Big Three. Its home loan is a strong option for middle-market borrowers.
Key Features
- Loan amount: Minimum 1,000,000 pesos; up to 80% of appraised value
- Loan term: Up to 20 years
- Fixed periods: 1, 2, 3, 5, or 10 years
- Notable: Security Bank has been known to offer rate discounts for payroll account holders and for borrowers with strong credit histories
RCBC Home Loan
Rizal Commercial Banking Corporation (RCBC) offers home loans with flexible terms and competitive rates, particularly for borrowers in Luzon. RCBC is also one of the more accessible banks for OFW borrowers.
Key Features
- Loan amount: Minimum 300,000 pesos; up to 80% of appraised value
- Loan term: Up to 20 years
- Fixed periods: 1, 2, 3, or 5 years
- Notable: RCBC has a dedicated OFW desk and streamlined remittance-linked loan servicing
Pag-IBIG (HDMF) Home Loan: The Government Option
Pag-IBIG Fund (HDMF) deserves special mention because it consistently offers the lowest headline rates in the Philippine home loan market — as low as 5.75% p.a. for qualified borrowers under its affordable housing program. However, Pag-IBIG loans come with important limitations.
Key Features
- Loan amount: Up to 6,000,000 pesos (standard); higher under End-User Financing
- Loan term: Up to 30 years
- Interest rates: As low as 5.75% p.a. for loans up to 750,000 pesos; higher rates apply to larger amounts
- Eligibility: Must be an active Pag-IBIG member with at least 24 monthly contributions
Pag-IBIG vs Commercial Banks: Which Is Better?
Pag-IBIG's low rates are attractive, but the fund's maximum loan amount and property eligibility requirements can be limiting for higher-value properties. Many borrowers who already have a Pag-IBIG loan refinance into a commercial bank product through Nook to access faster processing, fewer bureaucratic hurdles, and more flexible property types. Conversely, some commercial bank borrowers refinance into Pag-IBIG when their property qualifies. Nook can help you evaluate both paths.
How Much Can You Save by Refinancing?
The real opportunity in 2026 isn't just choosing the right bank when you take out a new loan — it's refinancing an existing loan that's costing you too much. Most Filipino homeowners are currently paying between 7% and 10% on their home loans. With Nook's best available rate of 5.99%, the savings can be dramatic.
Savings Example 1: Loan of 2,000,000 Pesos, 20-Year Term
| Current Rate (8%) | Nook Rate (5.99%) | Monthly Savings | |
|---|---|---|---|
| Monthly Payment | 16,729 | 14,324 | 2,405 |
| Total Interest Paid | 2,014,960 | 1,437,760 | 577,200 saved |
Savings Example 2: Loan of 5,000,000 Pesos, 20-Year Term
| Current Rate (8%) | Nook Rate (5.99%) | Monthly Savings | |
|---|---|---|---|
| Monthly Payment | 41,822 | 35,811 | 6,011 |
| Total Interest Paid | 5,037,280 | 3,594,640 | 1,442,640 saved |
These are significant sums. For a deeper look at how individual banks compare on refinancing, our 2026 Philippine bank home loan comparison guide walks through the full landscape in detail.
How Nook Works: Get the Best Rate Without the Legwork
Applying to multiple banks for a home loan or refinance is time-consuming, document-heavy, and often discouraging. Nook solves this by acting as your digital mortgage broker — we submit your application to multiple partner banks simultaneously and surface the best offer for your situation.
- Submit one application — fill out Nook's online form in minutes, not hours
- We shop the market — Nook compares rates and terms from its network of accredited bank partners
- You receive the best offer — we present you with the lowest rate and most favorable terms you qualify for
- We guide you to closing — Nook's loan specialists assist you through documentation, bank coordination, and title transfer
- 100% free — Nook earns a referral fee from the bank, never from you
Not sure which bank suits you?
Nook compares offers from 15+ banks for free. See your personalised options.
Compare My Options →Frequently Asked Questions
Which Philippine bank has the lowest home loan interest rate in 2026?
The lowest home loan rate currently available in the Philippines is 5.99% p.a., accessible through Nook's network of partner banks. Among publicly advertised rates, Pag-IBIG offers competitive rates starting around 5.75% for smaller loan amounts (up to 750,000 pesos), while commercial banks like BPI and BDO typically start from around 6.25% to 6.50% p.a. The best rate for you depends on your loan amount, property type, income, and credit profile — which is why comparing through a broker like Nook gives you the most accurate picture.
Is BDO or BPI better for a home loan in the Philippines?
Both BDO and BPI are excellent choices, but they suit different borrowers. BPI generally offers slightly more competitive starting rates and a strong digital application experience, while BDO provides a longer maximum loan term (25 years vs. BPI's 20 years) and accepts a wider range of property types. However, neither BDO nor BPI may offer you the absolute lowest rate — through Nook, you can compare both banks alongside other lenders to find the best deal for your specific situation.
How do I qualify for the best home loan rate in the Philippines?
To qualify for the lowest available rates, lenders typically look for a stable income (employed for at least 2 years or with a profitable business for at least 3 years), a clean credit history, a loan-to-value ratio of 70% or lower, and a property in good condition in a prime location. Borrowers with existing banking relationships at the lender, or those with payroll accounts, may also receive preferential rates. Nook helps you present your application in the most favorable light to maximize your chances of approval at the best rate.
Can I refinance my existing home loan to get a lower rate?
Yes, and for most homeowners currently paying 7% or higher, refinancing is one of the smartest financial moves you can make in 2026. Refinancing replaces your existing loan with a new one at a lower interest rate, reducing your monthly payment and total interest cost. For example, refinancing a 3,000,000 peso loan from 8% to 5.99% over a 20-year term saves you approximately 865,800 pesos in total interest. Nook specializes in home loan refinancing and makes the process completely free for borrowers.
What documents do I need to apply for a home loan in the Philippines?
Standard requirements across most Philippine banks include: a valid government-issued ID, proof of income (payslips for the last 3 months and Certificate of Employment for employed borrowers, or audited financial statements for self-employed borrowers), your Income Tax Return (ITR) for the past 1–2 years, a copy of the Transfer Certificate of Title (TCT) or Condominium Certificate of Title (CCT) of the property, a recent tax declaration, and a location map and photos of the property. OFW borrowers typically also need a copy of their employment contract, proof of remittance, and a Special Power of Attorney. Nook will give you a personalized document checklist based on your profile.
What is the maximum home loan amount I can borrow from Philippine banks?
Most Philippine commercial banks will lend up to 80% of the appraised value of the property, with some banks offering up to 90% for select developer-tied properties. In terms of absolute peso amounts, there is generally no published cap at major banks like BDO, BPI, and Metrobank — the limit is determined by your income's capacity to service the loan. Pag-IBIG's standard home loan program caps at 6,000,000 pesos, though higher amounts may be available under its End-User Financing program.
How long does it take to get a home loan approved in the Philippines?
Approval timelines vary by bank and the completeness of your documents. Generally, you can expect a Letter of Guarantee or conditional approval within 5 to 15 banking days from submission of complete documents. BPI is known for its relatively faster digital process, while government lenders like Pag-IBIG can take longer due to higher application volumes. Nook helps expedite the process by ensuring your documents are complete and correctly formatted before submission, reducing back-and-forth with the bank.
Is it safe to use a mortgage broker like Nook?
Yes. Nook is a licensed and regulated mortgage brokerage operating in the Philippines. Using Nook is safe, transparent, and completely free for borrowers. Nook does not charge you any fees — it earns a referral commission from the bank only after your loan is successfully processed. Your personal and financial data is handled securely and never shared without your consent. Think of Nook as a trusted financial advisor who works on your behalf to get you the best home loan deal available.