Thousands of Filipino homeowners are still paying 7% or more on their Metrobank home loan — Nook can help you switch to rates as low as 5.99% p.a. for free.
ESTIMATED MONTHLY SAVINGS
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Why this matters
Metrobank is one of the Philippines' largest banks and a popular choice for home financing — but like most traditional banks, their standard home loan rates typically range from 7% to 10% p.a. depending on your loan size, fixing period, and when you originally took out the loan. If you've had your Metrobank home loan for a few years without reviewing your rate, there's a strong chance you're overpaying every single month. You can check Metrobank's current housing loan rates and promos to get a clearer picture of where your loan stands today.
Refinancing means replacing your existing home loan with a new one — ideally at a significantly lower interest rate. Through Nook, the Philippines' first digital mortgage broker, you can compare verified offers from multiple partner banks and find a rate that could be substantially lower than what Metrobank is currently charging you. Our calculations above are based on approximate publicly available rates for Metrobank, which are subject to change — so your actual savings will depend on your specific loan balance, remaining term, and the current rate you're locked into. What we can say with confidence is that many borrowers switching through Nook are saving tens of thousands of pesos every year. If you're also weighing your options between lenders, our Metrobank vs BDO vs BPI home loan comparison breaks down how the major banks stack up in 2026.
The best part? Nook's service is completely free for borrowers. We're compensated by the banks, not by you — so there's no reason not to find out how much you could save. Our team handles the paperwork, the bank negotiations, and the end-to-end process so you don't have to. All it takes is a few minutes to get started, and you could be on your way to a lower monthly payment before your next repricing date arrives.
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
Yes, absolutely. Refinancing to a different bank — sometimes called an external refinance — is completely legal and very common in the Philippines. Through Nook, you can compare offers from multiple partner banks and move your loan to whichever lender gives you the best rate and terms. The process is straightforward and Nook handles most of the legwork for you at no cost.
Metrobank's standard home loan rates typically range from around 7% to 10% p.a. depending on the fixing period, loan amount, and your borrower profile — but these rates are subject to change and may vary based on ongoing promotions. We recommend checking the latest figures directly or reviewing our summary of Metrobank housing loan rates for 2026. The key question is whether your current rate is competitive compared to what's available in the market today.
Savings vary depending on your outstanding loan balance, remaining term, and the rate difference between your current loan and your new one. Based on our estimates, a borrower with a 3,000,000 peso loan at 8.50% could save over 4,500 pesos per month by switching to 5.99% p.a. — that's more than 800,000 pesos over the remaining life of the loan. Use Nook's free calculator to get a personalised estimate based on your actual figures.
Some home loans include a prepayment or early termination penalty, especially if you are still within a fixed-rate lock-in period. You should review your Metrobank loan agreement or contact your branch to confirm whether any fees apply before refinancing. Nook's mortgage specialists can help you assess whether the savings from refinancing outweigh any exit costs in your specific situation.
The refinancing process in the Philippines typically takes between 4 to 8 weeks from application to loan release, depending on the bank and how quickly documents are submitted. Nook streamlines this process by guiding you through every step, coordinating with the bank on your behalf, and helping ensure your application is complete and accurate from the start. Starting early — especially before your Metrobank repricing date — gives you the most time to secure the best possible rate.
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