Use our free home loan calculator to compute your monthly amortization — then see how much you could save by refinancing to as low as 5.99% p.a. through Nook.
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Why this matters
A home loan calculator helps you understand the true cost of your mortgage before you commit — or helps you figure out whether you're overpaying right now. Simply input your outstanding loan amount, your current interest rate, and your remaining loan term, and you'll instantly see your monthly amortization broken down into principal and interest. Most Filipino homeowners are surprised to discover how much of their early repayments go straight to interest rather than reducing their actual debt. If your bank hasn't repriced your loan recently, you could be paying a rate that's 2–3 percentage points higher than what's available in the market today. Use our home loan refinance calculator to go one step further — it shows you your potential monthly and lifetime savings if you switch to a lower rate.
Interest rates in the Philippines vary significantly between banks and change over time. BDO, BPI, Metrobank, Security Bank, RCBC, and other major lenders each publish their own indicative rates, but the rate you actually get depends on your loan amount, property type, credit profile, and how long your current fixed-rate period has been running. Many homeowners who took out loans at 7–9% several years ago haven't reviewed their options since — and are leaving tens of thousands of pesos on the table every year. Understanding where home loan interest rates are heading in the Philippines can help you time your refinance decision more confidently.
Nook is the Philippines' first digital mortgage broker, and our service is completely free to borrowers. We compare offers from multiple banks on your behalf, handle the paperwork, and guide you through the entire refinancing process — from application to approval. Whether you're computing payments on a new purchase or evaluating whether to refinance your existing home loan, Nook gives you the tools and access to make a smarter financial decision.
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 home loan calculator uses the standard amortization formula to compute your fixed monthly payment based on three inputs: your loan amount (principal), your annual interest rate, and your loan term in months. Each monthly payment covers the interest accrued that month plus a portion of the principal, with the interest share gradually decreasing over time as your balance reduces. This gives you an accurate picture of your repayment obligations from day one.
Most major Philippine banks are currently offering fixed rates in the range of 7% to 10% per annum, depending on the fixing period and the borrower's profile. Shorter fixed-rate periods (1–3 years) tend to come with lower initial rates, while longer fixing periods offer more payment certainty. Through Nook, qualified borrowers can currently access refinance rates starting from 5.99% p.a., which can translate to significant savings over the life of a loan.
Yes — you can manually input any bank's advertised rate to compare estimated monthly payments side by side. Simply run the calculation once with your current bank's rate, then again with a competitor's rate to see the difference in monthly amortization. For a more comprehensive comparison across multiple lenders at once, Nook can pull live offers from BDO, BPI, Metrobank, Security Bank, RCBC, and others based on your specific loan details.
Refinancing typically requires proof of income (payslips or ITR for employees; audited financial statements for self-employed), a copy of your existing loan's statement of account, your property's title (TCT or CCT), a tax declaration, and government-issued ID. The exact requirements can vary by bank, but our guide on home loan refinance requirements in the Philippines covers everything you'll need in detail. Nook also helps you prepare and organize your documents as part of our free service.
Yes, refinancing does involve some one-time costs such as appraisal fees, documentary stamp tax, notarial fees, and registration fees — typically ranging from 1% to 2% of the loan amount. However, for most borrowers, these costs are recovered within 12–24 months of lower monthly payments. You can learn more about what to expect in our breakdown of home loan refinance closing costs in the Philippines. Nook's brokerage service itself is 100% free — we are paid by the banks, not by you.
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