Most Filipino homeowners focus only on the new interest rate — but refinancing fees can cost ₱50,000 to ₱150,000. Our calculator shows you the full picture so you know exactly when you break even and how much you truly save.
ESTIMATED NET SAVINGS AFTER FEES
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Why this matters
Refinancing your home loan in the Philippines isn't just about landing a lower interest rate — it's about understanding whether that rate reduction actually puts more money in your pocket after all the fees are paid. Typical refinancing costs include appraisal fees (₱5,000–₱10,000), bank processing fees (₱10,000–₱30,000), documentary stamp tax (1.5% of the loan amount), notarial fees, and in some cases a penalty charge from your current lender for early settlement. On a ₱3,000,000 loan, these costs can easily reach ₱80,000 to ₱120,000 — which is why calculating your break-even point is essential before you commit to switching. For a deeper breakdown of what lenders charge at closing, see our guide on home loan refinance closing costs in the Philippines.
The good news is that for most homeowners currently paying 8% to 10% interest, the math works strongly in their favour. Refinancing to 5.99% p.a. through Nook on a ₱3,000,000 balance with 20 years remaining cuts your monthly payment by nearly ₱4,850 — meaning a ₱100,000 upfront fee is fully recovered in under two years. After that, every month is pure savings. Over a full 20-year term, that adds up to more than ₱870,000 in total interest saved. To see how different loan amounts and remaining terms affect your numbers, try our home loan refinance calculator for a personalised estimate.
Nook simplifies the entire process by shopping your loan across multiple Philippine banks — including BDO, BPI, Metrobank, Security Bank, RCBC, and others — to find you the lowest rate with the most favourable fee structure. Our service is completely free to borrowers; we are compensated by the bank when your loan is approved. That means you get expert guidance, full fee transparency, and a dedicated advisor at zero cost to you. Whether you're deciding between lenders or just trying to confirm that refinancing makes financial sense right now, Nook gives you the tools and the support to make a confident 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
The main costs to include are the bank's processing or application fee, appraisal fee, documentary stamp tax (1.5% of the loan amount), notarial and registration fees, and any pre-termination penalty from your current lender. On a ₱3,000,000 loan, expect total fees of roughly ₱80,000 to ₱130,000 depending on the bank and your existing loan terms. Nook provides a full fee estimate before you apply so there are no surprises.
Your break-even point is simply your total refinancing fees divided by your monthly savings on the new rate. For example, if your fees total ₱100,000 and your new payment saves you ₱4,850 per month, you break even in about 21 months. If you plan to stay in the property longer than that, refinancing is almost certainly worth it.
Many Philippine banks include a pre-termination or early settlement clause in their loan contracts, typically ranging from 1% to 3% of the outstanding balance within the first 3 to 5 years of the loan. It's important to check your loan agreement or ask your current bank directly before proceeding. Nook's advisors can help you factor this into your total cost calculation.
Yes, documentary stamp tax is a government-mandated charge applied to new mortgage contracts in the Philippines, including refinances — it is set at 1.5% of the loan amount. On a ₱3,000,000 refinance, that's ₱45,000 in DST alone, so it's the single largest fee most borrowers encounter. Some banks absorb part of this cost as a promotion, so it's worth comparing offers carefully.
Some Philippine banks allow borrowers to capitalise certain fees into the loan amount, meaning you don't need cash on hand at closing but you do pay interest on those costs over the life of the loan. Whether this makes sense depends on your rate, loan term, and cash flow situation. Nook's advisors can model both scenarios — paying fees upfront versus rolling them in — so you can choose the structure that works best for you.
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