Estimate your monthly amortization for a house and lot in the Philippines — then find out if you can get a lower rate than what your bank is offering.
POTENTIAL MONTHLY SAVINGS
No commitment. No credit check. Just your numbers.
Why this matters
When you buy a house and lot in the Philippines, your monthly payment — commonly called your amortization — depends on three things: the loan amount, the interest rate your bank offers, and the loan term you choose. Most Filipino homebuyers borrow between 2 and 5 million pesos and take out a 20-year loan, but even a single percentage point difference in your interest rate can mean hundreds of thousands of pesos in extra payments over the life of your loan. That's why it pays to compare rates across multiple banks before you sign anything. Use our calculator above to estimate your monthly payment, then let Nook shop the market for you — for free.
Already have a home loan? If you took out your mortgage two or more years ago, there's a strong chance you're paying a higher rate than what's available today. The best refinance rate currently available through Nook is 5.99% p.a., while most homeowners are still paying between 7% and 10%. Refinancing your house and lot loan could cut your monthly payment significantly and free up cash for other priorities. You can use our home loan refinance calculator to see exactly how much you could save based on your current balance and rate.
Before you apply — whether for a new purchase loan or a refinance — it helps to understand what documents and requirements the banks will ask for. Processing times and eligibility criteria vary between lenders like BDO, BPI, Metrobank, Security Bank, and Pag-IBIG, so being prepared makes the whole process faster. Check out our guide on home loan refinance requirements in the Philippines to get a head start. Nook handles the comparison and coordination across all these banks on your behalf, 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
Your monthly amortization is calculated using the standard loan amortization formula, which factors in your principal loan amount, the annual interest rate divided into monthly periods, and the total number of monthly payments over your loan term. For example, a 3,000,000 peso loan at 8.50% over 20 years results in a monthly payment of around 26,123 pesos. Banks may also charge additional fees like mortgage redemption insurance (MRI) and fire insurance, which can add to your monthly obligation.
Rates vary by bank and change regularly, but major lenders like BDO, BPI, Metrobank, Security Bank, and RCBC are typically competitive for house and lot financing. Pag-IBIG (HDMF) often offers lower rates for qualifying members, especially for loans below 6,000,000 pesos. Rather than checking each bank individually, Nook compares rates across all major lenders simultaneously so you can see the best available offer in one place — for free.
Most Philippine banks offer home loan terms between 5 and 25 years, with 15 and 20 years being the most common choices for house and lot purchases. A longer term means lower monthly payments but more interest paid over the life of the loan, while a shorter term costs more per month but saves significantly on total interest. Choosing the right term depends on your monthly cash flow and long-term financial goals.
Yes — refinancing is one of the most effective ways to reduce your monthly amortization if interest rates have dropped since you took out your original loan. Nook's best available refinance rate is currently 5.99% p.a., which is well below the 7–10% that many Filipino homeowners are still paying. The process involves switching your loan to a new lender who offers better terms, and Nook manages the entire process on your behalf at no cost to you.
Yes, both new purchase loans and refinanced loans typically involve closing costs such as appraisal fees, notarial fees, documentary stamp tax, and transfer taxes, which can range from 2% to 5% of the loan amount. It's important to factor these into your total cost comparison when choosing a bank. Our guide on home loan refinance closing costs in the Philippines breaks down exactly what to expect so there are no surprises.
Check your exact savings in 60 seconds. It's free and takes no commitment.
Check My Savings Now →