Use our House Mortgage Calculator to see exactly what your monthly amortization should be — and find out if you could be saving thousands of pesos every month by refinancing to a lower rate.
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Why this matters
A house mortgage calculator is the fastest way to understand the true cost of your home loan in the Philippines. Whether you're buying a new property or already paying off an existing loan, computing your monthly amortization lets you plan your budget with confidence. The formula factors in your principal amount, your interest rate, and your remaining loan term — and even a small difference in your rate can mean a dramatically different monthly payment. For a 3,000,000 peso loan at 8.50% over 20 years, for example, you're looking at roughly 26,035 pesos a month. Drop that rate to 5.99% through Nook and you're paying around 22,085 — a saving of nearly 4,000 pesos every single month.
Most Filipino homeowners don't realize how much their bank's repricing cycle is costing them. When your fixed-rate period ends, your bank quietly moves you onto a higher rate — often 8% to 10% or more — and many borrowers simply accept it. That's where refinancing comes in. By switching your loan to a bank offering a lower rate, you reset your amortization at a much friendlier level. If you want to see exactly how much you could save based on your specific loan balance and remaining term, try our Home Loan Refinance Calculator for a personalized breakdown.
Nook is the Philippines' first digital mortgage broker, and our service is completely free to borrowers. We compare rates across BDO, BPI, Metrobank, Security Bank, RCBC, UnionBank, and more to find you the best available deal — currently as low as 5.99% p.a. Before you start the process, it helps to understand what documents and eligibility criteria are involved. Check out our guide on home loan refinance requirements in the Philippines so you know exactly what to prepare. The whole process is simpler than most people expect, and the long-term savings can be life-changing.
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 your loan principal, your annual interest rate, and your loan term in months. The standard formula is M = P[r(1+r)^n] / [(1+r)^n - 1], where P is the loan amount, r is the monthly interest rate, and n is the total number of monthly payments. For a 3,000,000 peso loan at 8.50% over 20 years, this works out to approximately 26,035 pesos per month.
The best refinance rate currently available through Nook is 5.99% per annum, which is significantly lower than the 7% to 10% that most existing homeowners are paying after their fixed-rate periods have lapsed. Rates vary by bank, loan amount, and borrower profile, so it pays to compare across multiple lenders. Nook does this comparison for you at no cost.
For most homeowners paying above 7%, refinancing to a rate around 5.99% makes strong financial sense — especially if you have more than 10 years remaining on your loan. On a 3,000,000 peso balance, the difference between 8.50% and 5.99% over 20 years is over 700,000 pesos in total interest savings. Even after accounting for closing costs and fees, the break-even point is typically reached within the first 1 to 2 years.
BDO, BPI, Security Bank, Metrobank, and RCBC are among the most competitive lenders for home loan refinancing in the Philippines, and rates shift frequently based on BSP policy and bank promotions. Rather than applying to each bank individually, Nook compares all available offers simultaneously and matches you to the best rate for your specific situation. This saves you time and multiple hard credit inquiries.
The standard requirements include a valid government-issued ID, proof of income (payslips or ITR), your existing loan's statement of account, the Transfer Certificate of Title (TCT), a tax declaration, and proof of property insurance. Requirements can vary slightly between banks, so it's helpful to review a full checklist before you begin. Our guide on home loan refinance requirements covers everything you need to prepare in detail.
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