Thousands of Filipino homeowners with Metrobank home loans are paying rates between 8% and 10% per year. Nook can help you refinance to as low as 5.99% p.a. — for free.
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Why this matters
Metrobank is one of the Philippines' largest banks and a popular choice for home loans, but like most traditional banks, their standard mortgage rates — typically ranging from 7% to 10% per annum depending on the fixing period — can become expensive over time. If you took out your Metrobank home loan more than two years ago, there's a strong chance you're on a rate that no longer reflects what the market can offer. Refinancing means replacing your existing loan with a new one at a lower rate, and the savings can be substantial. On a 3,000,000 loan balance with 20 years remaining, moving from 8.50% to 5.99% could save you over 4,800 pesos every single month. You can use our Metrobank housing loan calculator to run your own numbers before committing to anything.
The refinancing process in the Philippines has traditionally been seen as complicated — involving multiple bank visits, stacks of documents, and weeks of uncertainty. Nook was built specifically to remove that friction. As the Philippines' first digital mortgage broker, Nook compares verified rates from BDO, BPI, Security Bank, and other leading lenders on your behalf, identifies your best option, and manages the entire application process for you. Unlike going directly to a bank, you get access to multiple competitive offers in one place, with a dedicated advisor guiding you from start to finish. And because Nook is paid by the bank — not you — the service is completely free for borrowers. For a deeper look at the full refinancing process, see our detailed Metrobank home loan refinancing guide.
It's worth noting that the rates shown on this page are approximate figures based on publicly available information and general market knowledge. Metrobank's actual home loan rates vary depending on loan amount, fixing period, loan-to-value ratio, and your credit profile — and are subject to change without notice. Always verify current rates directly with Metrobank or ask a Nook advisor to pull live, comparable offers from our network of partner banks so you can make a truly informed 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
It depends on your current rate, remaining loan balance, and how many years are left on your term. As a general rule, if your existing rate is 1.5 percentage points or more above what you could refinance to, the savings will typically outweigh the one-time costs of switching. Use Nook's free service to get a personalised comparison — it costs nothing to find out.
Metrobank's home loan rates generally range from around 7% to 10% per annum depending on the fixing period, loan amount, and borrower profile, but these figures are approximate and based on publicly available information. Rates are subject to change and may differ from what you're quoted directly. We recommend checking with Metrobank directly or having a Nook advisor pull live competing offers so you can compare accurately.
Yes — refinancing to a different bank is completely legal and common in the Philippines. The new bank pays off your existing Metrobank loan and issues you a new one at a lower rate. Nook works with multiple partner banks and can help you find the most competitive offer without you having to approach each lender individually.
Typical refinancing costs include a property appraisal fee, documentary stamp tax, registration fees, and possibly a cancellation fee from your existing lender — these can range from roughly 30,000 to 80,000 pesos in total depending on your loan size and bank. However, the monthly savings from a lower rate usually recover these costs within 12 to 24 months. Nook's brokerage service itself is 100% free to you as the borrower.
The refinancing process typically takes four to eight weeks from application to loan release, depending on how quickly documents are submitted and the bank's internal processing time. Nook streamlines this by helping you prepare your documents correctly the first time and liaising with the bank on your behalf, which can significantly reduce delays and back-and-forth.
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