Many Metrobank home loan borrowers are paying 7.50% or higher on their existing mortgage. Nook can help you compare verified rates from multiple lenders — and potentially switch to as low as 5.99% p.a. for free.
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Why this matters
Metrobank is one of the Philippines' largest and most established banks, and its home loan products are widely used by Filipino homeowners. However, like most traditional banks, Metrobank's standard home loan rates — which typically range from 7% to 9% depending on the fixing period and when you originally took out your loan — may no longer be competitive in today's market. If you've been with Metrobank for several years, there's a good chance your current rate was locked in at a time when rates were higher across the board. Note: Metrobank home loan rates shown here are approximate figures based on publicly available information and are subject to change. Always verify current rates directly with Metrobank or a licensed broker.
Refinancing your Metrobank home loan means replacing your existing mortgage with a new loan — either with Metrobank itself or with another lender — at a lower interest rate and potentially better terms. The savings can be significant: on a 3,000,000 loan, even reducing your rate by 1.5 percentage points could save you over 2,600 per month. Nook's free broker service lets you compare offers from multiple Nook partner banks side by side, so you're not guessing whether you're getting a good deal. You can also use our Metrobank housing loan calculator to model different rate scenarios before you commit to anything.
Unlike applying directly to a single bank, Nook submits your details to multiple lenders at once and presents you with the best verified offers available — at no cost to you. If you're curious about the full process of switching away from Metrobank, our guide on Metrobank home loan refinancing rates and process walks through everything from eligibility to documentary requirements and typical timelines. Interest rates are subject to change; all figures should be treated as estimates until confirmed in writing by a lender.
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, you are free to refinance your Metrobank mortgage with any bank or lender that accepts your application — you are not locked in to staying with Metrobank once your fixing period ends. Nook works with multiple partner banks in the Philippines and can help you find and compare the best available rate for your loan size and remaining term. The process typically takes 4 to 8 weeks from application to loan release.
Most lenders will require proof of income (payslips or ITR for at least 2 years), a copy of your existing loan statement, the Transfer Certificate of Title (TCT) of the property, and a recent tax declaration. You will also need valid government-issued IDs and a filled-out application form from the new lender. Nook will guide you through the exact documentary checklist once you submit your details.
Metrobank, like most Philippine banks, may charge a pre-termination fee if you pay off your loan before the end of your fixed-rate period — this is sometimes called a pre-payment penalty and can range from 1% to 3% of the outstanding balance. It's important to check your original loan agreement or contact Metrobank directly to confirm whether a penalty applies to your specific loan. Nook can help you calculate whether your projected savings still outweigh any exit fees.
Savings depend on your outstanding loan balance, remaining term, and the rate difference between your current Metrobank loan and the new offer. On a 3,000,000 loan with a 20-year remaining term, moving from 7.50% to 5.99% could save you approximately 2,654 per month — or around 477,720 over the life of the loan. Use these figures as a starting point, since actual savings will depend on your specific loan details and the rate you qualify for.
Nook's service is completely free for borrowers — there are no broker fees, application fees, or hidden charges on Nook's side. Nook earns a referral fee from the partner bank once a loan is successfully disbursed, which means you benefit from professional mortgage guidance at no cost to you. Standard third-party costs like notarial fees, appraisal fees, and registration fees will still apply as part of any refinancing transaction.
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