Many Filipino homeowners with Landbank housing loans are paying 7% to 9% or more — Nook can help you refinance to as low as 5.99% p.a. through our partner banks, completely free of charge.
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Why this matters
Landbank of the Philippines (Land Bank) is a government-owned bank that offers housing loans primarily to public sector employees, farmers, and low-to-middle income Filipinos. Their housing loan rates are generally competitive within the government bank space, but like most Philippine banks, rates are re-priced at the end of each fixed-rate period — meaning many borrowers who took out loans several years ago may now be on a higher rate than what is currently available in the market. Based on publicly available information, Landbank housing loan interest rates typically range from around 7% to 9% p.a. for standard fixed periods, though these figures are approximate and subject to change. Always verify the latest rates directly with Landbank or your loan officer. If you want to understand the full requirements before deciding whether to stay or switch, our complete Landbank housing loan requirements checklist is a helpful starting point.
If your Landbank home loan is approaching a rate re-pricing date — or if you feel your current rate no longer reflects the best available in the market — refinancing could be worth exploring. By switching to a Nook partner bank offering rates as low as 5.99% p.a., homeowners with a 3,000,000 peso outstanding loan balance could potentially save over 4,700 pesos every single month. That adds up to more than 56,000 pesos a year, and close to 850,000 pesos over the remaining life of a typical 20-year loan. These figures are illustrative and based on standard amortisation — your actual savings will depend on your specific loan balance, remaining term, and the rate you qualify for.
Nook is the Philippines' first digital mortgage broker, and our service is 100% free to borrowers. We work with multiple partner banks to find you the most competitive refinancing rate without you having to shop around yourself. Unlike applying directly to a single bank, Nook compares offers across our network so you can make a genuinely informed decision. Whether you are a government employee, a private sector worker, or a business owner, if you currently have a Landbank housing loan and want to know if refinancing makes sense, Nook can give you a clear, no-obligation answer. Note: Interest rates are subject to change. All rates shown are indicative only and should be verified with the relevant institution before making any financial decision.
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 interest rates generally range from approximately 7% to 9% p.a. for standard fixed-rate periods, though exact figures vary depending on the loan term, fixing period, and borrower profile. These rates are approximate and subject to change, so we strongly recommend contacting Landbank directly or visiting a branch to confirm the latest rates. If you are comparing options, Nook partner banks currently offer refinancing rates starting from 5.99% p.a.
Like most Philippine banks, Landbank offers housing loans with a fixed interest rate for an initial period — typically 1, 2, 3, 5, or 10 years — after which the rate is re-priced based on prevailing market rates at that time. This means your monthly payment can increase significantly after your fixing period ends. If your loan has recently been re-priced to a higher rate, this is often the ideal time to explore refinancing to lock in a lower rate through a Nook partner bank.
Yes, refinancing your Landbank housing loan to another bank is legally permitted and is a common strategy Filipino homeowners use to reduce their monthly payments. The process involves your new bank paying off your existing Landbank loan balance, and you then repay the new bank under the new, lower interest rate. Nook makes this process straightforward by handling the comparison and coordination on your behalf — at no cost to you.
To refinance your Landbank housing loan, you will typically need your latest Statement of Account from Landbank, proof of income (payslips or ITR), valid government-issued IDs, your property's TCT or CCT, and a copy of your loan restructuring or mortgage documents. Requirements can vary by lender, so Nook will guide you through the exact checklist based on the partner bank you are matched with. For a detailed overview of what government employees specifically need, see our Landbank government employee loan requirements guide.
Generally, refinancing delivers the most savings when you have at least 10 or more years remaining on your loan term, because the interest savings accumulate over a longer period. If you have fewer than 5 years remaining, the upfront costs of refinancing — such as appraisal fees, notarial fees, and registration charges — may outweigh the interest savings. Nook can calculate your specific break-even point for free so you can make a fully informed decision before committing to anything.
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