Thousands of Filipino homeowners are overpaying on their home loans every month. Nook compares top Philippine banks for free so you can find a lower rate and keep more money in your pocket.
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Why this matters
Metrobank is one of the Philippines' largest banks and a well-known name in home lending. However, if you took out your Metrobank home loan several years ago, there's a strong chance your interest rate — typically ranging from 7.50% to 10% depending on your fixing period and when you signed — is significantly higher than what's available in the market today. Rates shown here are approximate, based on publicly available information, and are subject to change; always verify current rates directly with any bank before making a decision. The good news is that refinancing your existing loan is entirely possible, and you don't have to refinance back to Metrobank — you can switch to whichever bank offers you the best deal.
This is exactly where Nook comes in. As the Philippines' first digital mortgage broker, Nook works with a panel of partner banks to surface verified, competitive refinance rates on your behalf. Our service is 100% free to borrowers — no broker fees, no hidden charges. Rather than spending weeks calling banks individually and comparing paperwork, Nook streamlines the entire process so you can see your options clearly and move forward with confidence. If you're weighing your options, our guide to switching banks and saving on interest walks through the key considerations in detail.
On a ₱3,000,000 loan with a 20-year remaining term, moving from an approximate 8.50% rate to Nook's best available rate of 5.99% p.a. could save you over ₱3,000 every single month. Over the life of the loan, that adds up to more than half a million pesos — money that stays with your family instead of going to the bank. If you're unsure whether the timing is right for you, our explainer on why and how homeowners switch banks covers the common scenarios where refinancing makes the most financial sense. Note that all savings figures are illustrative estimates; your actual savings will depend on your outstanding balance, remaining term, and the rate you qualify for.
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 means taking out a new home loan with a different lender to pay off your existing Metrobank loan — you are not required to stay with Metrobank. Nook works with multiple partner banks and can help you find a lender offering a more competitive rate than what you're currently paying.
The best refinance rate currently available through Nook's partner banks is 5.99% p.a., which is significantly lower than the 7.50%–10% range that many existing Metrobank borrowers are on. The exact rate you qualify for will depend on your loan amount, remaining term, property value, and credit profile — Nook will present your actual options after a quick assessment.
Nook's mortgage broking service is completely free for borrowers. There are standard bank fees involved in any refinancing (such as appraisal fees and documentary stamp tax), but Nook does not charge you a broker fee on top of these. We're transparent about all costs upfront so there are no surprises.
The refinancing process in the Philippines typically takes between 4 to 8 weeks from application to loan release, depending on the receiving bank and how quickly documents are submitted. Nook helps you prepare your documents correctly the first time and keeps the process moving, which can significantly reduce delays.
The rates referenced on this page are approximate figures based on publicly available information and are intended for illustrative purposes only — they are not official quotes from Metrobank and are subject to change without notice. We strongly recommend verifying current rates directly with Metrobank or letting Nook compare verified rates from our partner banks on your behalf.
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