Thousands of Filipino homeowners are still paying 8–9% interest on their Metrobank home loans. With Nook, you could refinance to as low as 5.99% p.a. — free of charge.
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Why this matters
Metrobank is one of the Philippines' largest and most trusted banks, and many homeowners took out their original housing loans there years ago. But home loan interest rates have shifted significantly, and the rate you locked in at re-pricing — often between 7.50% and 9.50% — may no longer be competitive in today's market. Refinancing doesn't mean you did anything wrong; it simply means you now have the opportunity to renegotiate the cost of your loan based on current conditions. Note that Metrobank's rates shown here are approximate, based on publicly available information, and are subject to change — always verify directly with the bank or through a licensed broker.
This is where Nook comes in. As the Philippines' first digital mortgage broker, Nook compares home loan offers from multiple partner banks so you don't have to do the legwork yourself. Instead of calling each bank, gathering rate sheets, and trying to decode amortisation tables on your own, Nook's platform surfaces the best available refinance rates in minutes — at zero cost to you. If you're currently on a Metrobank home loan and approaching a re-pricing date, this is the ideal moment to explore whether switching lenders could put thousands of pesos back in your pocket every month. You can also review Metrobank's refinancing rates and process to understand what your current lender offers before making any decision.
Refinancing involves transferring your outstanding loan balance to a new lender who offers a lower interest rate or better terms. The process typically takes 4–8 weeks and requires documentation such as your title, existing loan statement, and income documents. If you want a full breakdown of what's needed, our complete Metrobank housing loan requirements guide covers eligibility and documents in detail. The monthly savings can be substantial — and over a remaining 20-year term, even a 2-percentage-point rate reduction on a 3,000,000 loan can mean nearly 1,000,000 pesos in total interest savings. All interest rates are subject to change; figures above are illustrative and based on a 20-year amortisation term.
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 can refinance your Metrobank home loan to another bank if that lender offers a more competitive rate. This is called a loan takeout or balance transfer, and it's a completely standard process in the Philippines. Nook can match you with partner banks offering rates as low as 5.99% p.a. and handle the comparison process for free.
Metrobank's published home loan rates typically range from around 7% to 9.50% depending on the fixing period and loan amount, but these are approximate figures based on publicly available information and are subject to change at any time. For the most accurate and up-to-date rate, contact Metrobank directly or speak with a Nook advisor who can compare it against verified offers from multiple lenders.
Metrobank, like most Philippine banks, may charge a pre-termination or early settlement fee if you pay off your loan before a certain lock-in period ends — this is typically 1–3% of the outstanding balance. Before refinancing, check your loan agreement for any penalty clauses and factor this cost into your savings calculation. In most cases, the long-term interest savings still far outweigh any one-time penalty.
Nook is a digital mortgage broker that earns a referral fee from partner banks when a loan is successfully closed — meaning you pay absolutely nothing for the service. You simply fill in your loan details, and Nook matches you with the best available refinance offers from its network of partner banks. You get transparent rate comparisons, guided document submission, and support through to loan approval.
Savings depend on your outstanding balance, current rate, and the new rate you qualify for, but a borrower with a 3,000,000 loan at 8.50% refinancing to 5.99% could save roughly 3,900 pesos per month and close to 940,000 pesos over a 20-year term. Use Nook's free calculator to get a personalised estimate based on your actual loan details. All figures are illustrative and subject to the rates available at the time of application.
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