Most Filipino homeowners are paying 7% to 10% interest on their home loan — but the lowest rate available today is just 5.99% p.a. Use Nook's free housing loan calculator to compare all major banks and see exactly how much you could save.
SAMPLE SAVINGS COMPARISON
No commitment. No credit check. Just your numbers.
Why this matters
A housing loan calculator is the fastest way to cut through the noise and see what you're actually paying versus what you could be paying. Filipino homeowners spread across BDO, BPI, Metrobank, RCBC, Security Bank, UnionBank, PSBank, Chinabank, EastWest Bank, and Pag-IBIG are all subject to different repricing schedules, lock-in periods, and advertised rates — and most borrowers haven't checked whether their current rate is still competitive. On a 3,000,000 loan at 8.50%, you're paying around 26,035 a month. Drop that to 5.99% and you're down to 22,131. That's nearly 3,900 a month back in your pocket, every month, for the life of your loan. You can get a precise picture of your own situation using our home loan refinance savings calculator.
The challenge is that no single bank offers the best rate for every borrower. BDO and BPI tend to dominate on volume, but Security Bank and RCBC have been competitive on pricing in recent repricing cycles. Metrobank offers attractive fixed-rate periods, while Pag-IBIG (HDMF) remains the most accessible for lower-income brackets with regulated rates. Rather than applying to each bank individually — which can take weeks and hurt your credit profile — Nook compares all of them simultaneously on your behalf, for free. To understand what Philippine home loan interest rates have been doing and where they're likely headed, it's worth reading up before you lock in a new term.
Refinancing is not just for people in financial distress. If your loan is more than two years old and you haven't repriced or refinanced, there is a very strong chance you are paying more than you need to. The process is straightforward — Nook handles the bank submissions, paperwork coordination, and follow-ups on your behalf. Before you start, it helps to know the documents and requirements for a Philippine home loan refinance so you're not caught off guard. Most borrowers who refinance through Nook see their application resolved within 30 to 45 days.
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
Rates shift regularly across BDO, BPI, Metrobank, Security Bank, RCBC, and others depending on the Bangko Sentral ng Pilipinas (BSP) policy rate and each bank's own funding costs. The lowest rate currently available through Nook is 5.99% p.a., but the best bank for you depends on your loan amount, property type, and credit profile. Nook compares all eligible banks in one submission so you get competing offers without doing multiple applications yourself.
A standard amortisation calculator gives you a reliable estimate of monthly payments and total interest paid, as long as you input the correct loan amount, interest rate, and remaining term. Keep in mind that advertised rates are often fixed only for an initial period — typically 1, 2, 3, or 5 years — after which your rate reprices to a new prevailing rate. Always compare the full loan cost, not just the teaser rate.
Yes, both directions are possible and relatively common in the Philippines. Homeowners with Pag-IBIG loans sometimes refinance to private banks when they can access lower rates, while others move to Pag-IBIG for its regulated and often more stable rates. Eligibility depends on your current loan balance, property valuation, employment status, and the accepting bank's own credit criteria. Nook can assess both options for you at no cost.
Typical refinancing costs include appraisal fees, notarial fees, mortgage registration, documentary stamp tax, and sometimes a processing or origination fee from the new bank. Some banks waive select fees as part of a promotional offer. It's important to calculate whether your monthly savings exceed these upfront costs — in most cases, borrowers recover closing costs within 12 to 24 months. See our detailed breakdown of home loan refinance closing costs in the Philippines for a full picture.
Yes, completely free for the borrower. Nook is compensated by the bank you ultimately choose, similar to how a mortgage broker operates in other markets. You pay nothing to use the comparison tool, nothing to submit your application, and nothing for Nook's processing and coordination support throughout your refinancing. There are no hidden fees on Nook's side at any stage.
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