Thousands of Filipino homeowners are overpaying on their Metrobank home loans every month. See how much you could save by refinancing to a lower rate through Nook — completely free.
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Why this matters
Metrobank is one of the Philippines' most established banks and a popular choice for home loans — but like most traditional banks, the rate you locked in years ago may no longer be the best available in the market. Standard Metrobank home loan rates typically range from 7% to 10% per annum depending on the fixing period, loan amount, and borrower profile. These rates are approximate figures based on publicly available information and are subject to change at any time, so always verify the current rate directly with the bank. If your current repricing period is coming up, or if you've been on the same rate for several years, now is a good time to compare. Learn more about switching away from Metrobank to save on interest.
Refinancing works by transferring your outstanding home loan balance to a new lender — or renegotiating terms with your existing one — to secure a lower interest rate. On a ₱3,000,000 loan with 20 years remaining, dropping from 8.50% to 5.99% can reduce your monthly payment by over ₱3,000 and save you more than half a million pesos over the life of the loan. The key is knowing when to move and which lender offers the best verified rate for your situation. Nook's partner banks provide confirmed, up-to-date rates — not estimates — so you're comparing apples to apples before you commit.
The refinancing process in the Philippines typically takes 4 to 8 weeks and involves document submission, property appraisal, credit evaluation, and loan release. It can feel overwhelming, but Nook handles the coordination for you at zero cost. Whether you're currently with Metrobank or considering switching to Metrobank, Nook helps you compare all available options so you make the move that actually puts money back in your pocket. Note: interest rates are subject to change and all figures should be verified with your lender 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
Metrobank's home loan rates generally range from 7% to 10% per annum, depending on the loan amount, fixing period, and your credit profile. These figures are based on publicly available information and are approximate — rates change regularly, so you should contact Metrobank directly or use Nook to compare verified rates from multiple lenders side by side. Nook's current best refinance rate is 5.99% p.a. through its partner banks.
Yes, you can refinance your Metrobank home loan to any participating lender — this is called a loan takeout or bank transfer. Your new lender pays off your existing Metrobank balance, and you begin repaying under the new lender's terms at (ideally) a lower rate. Nook works with multiple Philippine banks and can help you find the best available rate without any broker fees.
You'll typically need a valid government-issued ID, proof of income (payslips or ITR), your latest Statement of Account from Metrobank, the Transfer Certificate of Title (TCT) or Condominium Certificate of Title (CCT), and a tax declaration for the property. Your new lender may also require a property appraisal and proof of mortgage payments. Nook provides a complete checklist once you submit your application.
The full refinancing process — from application to loan release — typically takes 4 to 8 weeks in the Philippines. This includes credit evaluation, property appraisal, document processing, and coordination between your old and new bank. Working with a mortgage broker like Nook can streamline the process since we handle follow-ups and bank coordination on your behalf.
Generally, refinancing makes the most financial sense when you have at least 10 or more years remaining on your loan, since the interest savings compound over time and outweigh the upfront costs like appraisal and transfer fees. If you're closer to the end of your term, the math may not work in your favour — Nook can run a personalised calculation so you can see exactly whether refinancing is worth it in your specific situation.
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