Landbank is a trusted name in Philippine home financing — but if your loan is a few years old, you could be paying hundreds of thousands more than necessary. See how your current rate stacks up and whether refinancing makes sense for you.
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Why this matters
Landbank of the Philippines (LBP) is one of the country's most established government banks, and its housing loan program has long been a go-to option for government employees, OFWs, and other Filipino borrowers. Landbank typically offers fixed-rate periods of 1, 2, 3, 5, or 10 years, after which your loan reprices to whatever the prevailing bank rate is at the time. For many borrowers who took out their loans when rates were higher — or whose fixed period has already lapsed — this means they are now carrying a rate somewhere between 7% and 10% per annum. See a full breakdown of Landbank's current rates, calculator, and requirements to understand exactly where your loan stands today.
The good news is that refinancing has never been more accessible in the Philippines. Through Nook, you can compare verified offers from multiple partner banks and access rates as low as 5.99% p.a. — completely free of charge. On a 3,000,000 peso loan with a remaining 20-year term, moving from a typical Landbank repriced rate of around 8.50% to 5.99% can translate to savings of over 3,000 pesos every single month. That is money that stays in your pocket instead of going to interest. If you are considering making the switch, our Landbank refinance guide walks you through the full process, including what documents you will need and how long it typically takes.
It is worth noting that the rates shown on this page are approximate figures based on publicly available information and general market knowledge. Landbank's actual rates are subject to change and may vary depending on your loan term, fixed-rate period, and borrower profile. Always verify the latest rates directly with Landbank or consult a licensed mortgage broker before making any financial decisions. Nook's service connects you with partner banks offering competitive, verified rates — and because Nook is 100% free to borrowers, there is no cost to finding out whether you can do better.
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
Based on publicly available information, Landbank housing loan rates typically range from around 7% to 9% per annum depending on the fixed-rate period you choose — shorter fixed periods tend to carry lower initial rates while longer fixed periods offer more stability. These rates are approximate and subject to change, so always confirm the current figures directly with Landbank. If your fixed period has already lapsed, your loan may have repriced to a higher variable rate, which is often when refinancing becomes worth exploring.
Landbank housing loans are available to Filipino citizens who are at least 21 years old and not more than 65 years old at loan maturity, with a stable source of income. Government employees, military and uniformed personnel, and OFWs are among the most common applicants given Landbank's strong focus on public sector borrowers. Self-employed individuals may also apply but are typically required to submit additional documentation such as audited financial statements.
Standard requirements generally include a completed application form, valid government-issued IDs, proof of income such as pay slips or a Certificate of Employment, and property documents including the Transfer Certificate of Title and tax declaration. OFWs typically need to provide their employment contract, proof of remittance, and an SPA if applying through a representative. For the complete and most up-to-date list, see the Landbank housing loan requirements and application process guide.
Yes — refinancing a Landbank housing loan is straightforward and is one of the most effective ways to reduce your monthly payments if your current rate is above 7%. Through Nook, you can compare offers from multiple Philippine banks for free and potentially access rates as low as 5.99% p.a. The process typically takes four to eight weeks and Nook handles most of the coordination on your behalf at no cost to you.
It depends on your current rate and how much of your loan term remains — the larger the outstanding balance and the longer the remaining term, the greater the potential savings from refinancing. Private banks partnered with Nook currently offer rates starting at 5.99% p.a., which may be meaningfully lower than what you are paying on a repriced Landbank loan. Nook can run the numbers for you for free so you can make an informed decision without any obligation.
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