We compared every major bank in the Philippines so you don't have to. The lowest housing loan rate available today is 5.99% p.a. — and switching could save you hundreds of thousands of pesos.
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Why this matters
If you took out a housing loan in the Philippines two or three years ago, there's a very good chance you're sitting on a rate between 7% and 10% — and quietly paying far more than you need to. The Philippine mortgage market has evolved significantly, and in 2026, the most competitive banks are offering rates as low as 5.99% p.a. for refinancing. That gap between what you're paying now and what's available today is real money leaving your pocket every single month. Use our home loan refinance calculator to see exactly what your savings could look like in minutes.
The big names — BDO, BPI, Metrobank, Security Bank, PNB, RCBC, UnionBank, Chinabank, EastWest, and PSBank — all have housing loan products, but their posted rates and actual approved rates can vary widely depending on your loan amount, remaining term, employment status, and the property you're mortgaging. That's exactly why Nook exists: to shop your profile across all of them simultaneously and surface the best deal for your specific situation. There are no broker fees, no hidden charges — Nook's service is completely free to the borrower. Before you apply anywhere, it's worth understanding the refinancing requirements so you know what documents to prepare.
Whether you're a salaried employee, an OFW, or a self-employed professional, refinancing your home loan is one of the highest-return financial moves you can make in 2026. On a 3,000,000 peso loan with 20 years remaining, moving from 8.50% to 5.99% doesn't just feel better — it translates to tens of thousands of pesos saved every year, and potentially over half a million pesos across the life of your loan. The process is simpler than most people expect, and Nook handles the comparison and application coordination for you from start to finish.
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 lowest housing loan interest rate currently available through Nook is 5.99% p.a. This rate is offered by select partner banks and is subject to credit approval, loan amount, and property type. Nook compares rates across all major Philippine banks to find the best match for your profile.
There is no single best bank for every borrower — the winning rate depends on your income, loan amount, property location, and credit history. BDO, BPI, Metrobank, Security Bank, and RCBC are among the most competitive lenders in 2026, but the only way to know your best rate is to have all of them assessed at once. That's what Nook does, for free.
Yes — refinancing is one of the most effective ways to reduce your monthly payment and total interest cost if your current rate is above 7%. Most Philippine banks accept refinancing applications from borrowers with at least 12 months of good payment history on their existing loan. Nook can assess your eligibility and handle the bank comparison process at no cost to you.
Standard requirements include valid government-issued IDs, proof of income (payslips, ITR, or business financials for the self-employed), a copy of your Transfer Certificate of Title (TCT), and a recent tax declaration. OFWs typically need to provide their employment contract and proof of remittance. For a full checklist, see our guide on home loan refinance requirements in the Philippines.
There are standard closing costs involved in refinancing — such as notarial fees, transfer taxes, and processing fees — which typically range from 1% to 3% of the loan amount. However, Nook's brokerage service is 100% free to the borrower; we are compensated by the banks, not by you. You can learn more about what to expect in our guide on refinancing closing costs in the Philippines.
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