Thousands of Filipino homeowners are overpaying on their Metrobank housing loan without realizing it. Nook's free calculator shows your exact monthly payment — and how much you could save by refinancing to as low as 5.99% p.a.
POTENTIAL MONTHLY SAVINGS
No commitment. No credit check. Just your numbers.
Why this matters
Metrobank is one of the Philippines' largest and most trusted banks, and its housing loan products are popular among Filipino homebuyers for good reason — strong branch network, reliable service, and competitive introductory rates. However, like most Philippine banks, Metrobank's home loan interest rates are typically fixed only for the first one to five years, then reprice to a higher prevailing rate. Many borrowers who took out their loan several years ago are now paying rates between 7.5% and 10% p.a. — significantly above what is available in the market today. The approximate rates shown here are based on publicly available information and are subject to change; always verify current rates directly with Metrobank or a licensed broker.
If your Metrobank housing loan has already repriced, or if you're simply curious whether you're getting the best deal, it's worth running the numbers. A ₱3,000,000 loan at 8.50% p.a. over 20 years costs roughly ₱26,035 per month. Refinancing that same loan to 5.99% p.a. through a Nook partner bank drops your payment to around ₱22,966 — a difference of over ₱3,000 every month. Over the remaining life of the loan, that adds up to more than ₱550,000 in total savings. You can also explore how Metrobank stacks up against other lenders in our Metrobank vs BPI vs Security Bank rate comparison for 2026 or our detailed Security Bank vs Metrobank refinance rates comparison.
Nook is the Philippines' first digital mortgage broker, and our service is completely free to borrowers. We compare verified, current rates from multiple partner banks — so you never have to guess whether your rate is competitive. If refinancing makes sense for your situation, we handle the paperwork, coordinate with the bank, and guide you through every step of the process. There's no obligation to proceed, and checking your potential savings takes just a few minutes.
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
The calculator uses standard amortisation formula to estimate your monthly payment based on the loan amount, interest rate, and remaining term you enter. The Metrobank rates shown are approximate figures based on publicly available information and are subject to change — for your exact current rate and balance, refer to your latest loan statement or contact Metrobank directly. Use this tool to understand the potential impact of refinancing, then speak with a Nook advisor to get verified quotes.
Yes — refinancing your Metrobank housing loan to another bank is a common and perfectly legal process in the Philippines. You essentially take out a new loan with a new lender to pay off your existing Metrobank balance, ideally at a lower interest rate. Nook works with multiple partner banks and can help you compare options side by side, handle the application, and secure the best available rate — at no cost to you.
Standard requirements typically include a valid government-issued ID, your latest three to six months of payslips or income documents (for employed borrowers), your most recent ITR, your existing loan statement of account from Metrobank, and a copy of your property's Transfer Certificate of Title (TCT) or Condominium Certificate of Title (CCT). Nook's team will give you a complete, bank-specific checklist once you start your application so nothing is missed.
Refinancing does involve one-time costs such as appraisal fees, documentary stamp tax, notarial fees, and registration charges — these typically range from 1% to 2% of the loan amount. However, Nook's mortgage broker service itself is 100% free to borrowers; we are compensated by the receiving bank, not you. Your Nook advisor will provide a clear cost-benefit breakdown so you can confirm that the long-term savings outweigh the upfront costs before you commit.
Metrobank's published rates are broadly in line with the Philippine market, but the best available rates through Nook's partner banks can be meaningfully lower — currently as low as 5.99% p.a. Since rates vary by loan amount, term, and borrower profile, the most reliable way to compare is to get actual quotes. For a broader view, check out our BPI vs Security Bank vs Metrobank home loan rates comparison — and remember that all rates are subject to change and should be verified before you apply.
Check your exact savings in 60 seconds. It's free and takes no commitment.
Check My Savings Now →