Cebuano homeowners are still paying 7.5% to 9.5% on old bank rates — when the best refinance rate available today is just 5.99% p.a. Nook helps you switch for free.
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Why this matters
Cebu is one of the Philippines' fastest-growing property markets, with homeowners across Cebu City, Mandaue, and Lapu-Lapu carrying home loans from banks like BDO, BPI, Metrobank, Security Bank, and PNB. If you took out your loan more than two to three years ago, there's a strong chance you locked in at a rate between 7.5% and 9.5% — and your bank hasn't offered you anything better since. Refinancing lets you move that loan to whichever bank is offering the most competitive rate today, without paying a broker fee of any kind.
Nook is the Philippines' first digital mortgage broker, and our service is completely free to borrowers. We compare refinancing offers from all major Philippine banks on your behalf, handle the paperwork, and guide you through every step of the process — from document submission to loan release. For a 3,000,000 home loan on a 20-year term, switching from 8.5% to 5.99% saves you over 4,500 pesos every single month. That's more than 54,000 pesos a year staying in your pocket instead of going to your bank.
Whether your property is a house and lot in Banilad, a condo in IT Park, or a townhouse in Consolacion, refinancing works the same way — and Nook makes it straightforward. The key requirements are that your loan has been active for at least one year, your property is within an eligible area, and your account is in good standing. If you're curious how Cebu rates compare to other major markets, you can also check out best home loan rates in Makati for 2026 to benchmark what top banks are offering nationally.
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
All major Philippine banks — including BDO, BPI, Metrobank, Security Bank, PNB, RCBC, UnionBank, Chinabank, and EastWest Bank — offer refinancing for properties in Metro Cebu. Nook compares their current rates and terms simultaneously so you don't have to approach each bank separately. We then recommend the offer that gives you the biggest saving based on your specific loan balance and remaining term.
It depends on your current rate, outstanding balance, and remaining term — but savings are typically substantial. A homeowner with a 3,000,000 loan at 8.5% switching to 5.99% saves around 4,562 pesos per month, or over 820,000 pesos across a 20-year term. Even homeowners with smaller balances or shorter remaining terms often save tens of thousands of pesos annually.
No — Nook's service is 100% free to the borrower. We are compensated by the bank when your loan is successfully refinanced, which means there is no out-of-pocket cost to you at any point in the process. The only costs involved are the standard bank processing fees and government charges that apply to any home loan transaction in the Philippines.
Yes, refinancing is available for a wide range of property types across Metro Cebu, including condominiums, house-and-lot properties, and townhouses in Cebu City, Mandaue, Lapu-Lapu, Talisay, and nearby areas. The key eligibility factors are that the property has a clean title, the loan has been active for at least 12 months, and your account has no history of missed payments. Nook will assess your eligibility quickly when you apply.
Most refinancing applications in Metro Cebu are completed within 30 to 60 days, depending on how quickly you can submit your documents and how fast the receiving bank processes your appraisal and credit evaluation. Nook actively coordinates with the bank on your behalf throughout the process to minimise delays. We'll tell you exactly what to prepare so there are no surprises along the way.
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