Filipino homeowners with a housing loan are often paying 7% to 10% interest — when the best available rate today is just 5.99% p.a. Nook helps you switch in minutes, for free.
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Why this matters
A housing loan in the Philippines is typically offered by major banks like BDO, BPI, Metrobank, Security Bank, and Pag-IBIG (HDMF), with interest rates that reprice every 1, 3, or 5 years. What many homeowners don't realise is that when their fixed-rate period ends, their bank quietly rolls them onto a much higher reversion rate — sometimes as high as 9% or 10% — without any proactive offer to do better. If you haven't reviewed your housing loan rate in the last 12 months, there's a very good chance you're overpaying. Use Nook's home loan refinance calculator to see exactly how much you could save by switching to a lower rate today.
Refinancing your housing loan means moving your outstanding balance to a new lender offering a lower interest rate. For a ₱3,000,000 loan with 20 years remaining, dropping from 8.50% to 5.99% reduces your monthly repayment by nearly ₱4,000 — that's over ₱47,000 saved every year. The process involves a few standard refinancing requirements such as proof of income, a clean credit history, and an updated property appraisal, but Nook handles the paperwork and bank coordination on your behalf at zero cost to you.
Nook is the Philippines' first digital mortgage broker, giving you access to competitive rates from multiple banks through a single application. Instead of visiting each bank branch individually and comparing offers manually, Nook does the legwork — matching you with the lender most likely to approve your loan at the lowest available rate. Whether you have a loan with BDO, BPI, Metrobank, or any other local bank, refinancing through Nook is free, fast, and fully online.
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 best refinance rate currently available through Nook is 5.99% per annum. Most homeowners with existing housing loans are still paying between 7% and 10%, especially if their fixed-rate period has already expired and they haven't switched lenders. Shopping around — or using a mortgage broker like Nook — is the most reliable way to secure the lowest possible rate.
There is no single 'best' bank for every borrower — the right lender depends on your income, loan amount, property type, and credit history. BDO, BPI, Metrobank, Security Bank, and Pag-IBIG are among the most commonly used lenders in the Philippines. Nook compares offers from multiple banks simultaneously so you get the most competitive rate available for your specific situation.
Standard requirements include proof of Filipino citizenship or eligible visa status, a stable income (employed or self-employed), a good credit record with no major defaults, and a property with a clean title. For refinancing specifically, most banks also require that your current loan has been active for at least 12 to 24 months. Nook's team will assess your eligibility upfront so you only apply to lenders most likely to approve you.
The typical refinancing timeline is 4 to 8 weeks from application to loan release, depending on the bank and how quickly documents are submitted. Nook streamlines the process by preparing your application and coordinating directly with the bank on your behalf. Having your documents ready — including your latest payslips, ITR, and property documents — helps move things along faster.
Nook's service is completely free for borrowers — we are compensated by the bank, not by you. However, there are standard third-party costs involved in refinancing such as appraisal fees, notarial fees, and registration charges. These are typically a one-time cost that most homeowners recover within a few months of enjoying their lower monthly repayment.
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