Get the full picture on Metrobank housing loan requirements — then see if you could save thousands by refinancing to a lower rate through Nook.
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Why this matters
Metrobank is one of the Philippines' largest and most established banks, and its housing loan product is a popular choice for Filipinos buying or building a home. To qualify, applicants typically need to be between 21 and 65 years old at loan maturity, a Filipino citizen or a qualified foreign national, and must demonstrate a stable source of income — whether as a locally employed professional, an OFW, or a self-employed individual. Standard documentary requirements include a valid government-issued ID, proof of income (such as payslips, ITR, or a Certificate of Employment), a duly accomplished application form, and property-related documents like a certified true copy of the Transfer Certificate of Title (TCT) and a tax declaration. Note that specific requirements and applicable rates are subject to change, so always verify the latest information directly with Metrobank before applying. For a deeper look at what to prepare, see our detailed breakdown of Metrobank housing loan documents and eligibility.
When it comes to interest rates, Metrobank — like most Philippine banks — typically offers fixed rates for an initial period (commonly 1, 2, 3, or 5 years), after which the rate reprices based on prevailing market conditions. Based on publicly available information, standard Metrobank housing loan rates have generally ranged from approximately 7% to 10% per annum, depending on the fixing period and the borrower's profile. These are approximate figures and are subject to change without notice. This repricing structure means many homeowners find themselves paying significantly more than they expected once their initial fixed period ends — and that's exactly where refinancing becomes worth exploring.
If you're already a Metrobank borrower whose rate has recently repriced, or if you're simply comparing your options before committing, it's worth knowing that Nook's partner banks currently offer refinance rates as low as 5.99% p.a. On a 3,000,000 loan, the difference between an 8.50% rate and 5.99% can mean thousands of pesos in monthly savings. Nook's service is completely free to borrowers — we're paid by the bank, not you. You can also read more about how Metrobank home loan refinancing works and whether switching makes sense for your situation.
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
Applicants must generally be at least 21 years old and no older than 65 years at loan maturity, and must be a Filipino citizen or a qualified foreign national with the right to own property in the Philippines. You must also have a stable and verifiable source of income, whether you're locally employed, self-employed, or an OFW. These criteria are approximate and based on publicly available information — confirm the latest requirements directly with Metrobank before applying.
Standard requirements typically include a completed application form, at least one valid government-issued ID, proof of income (payslips and a Certificate of Employment for employees; ITR and financial statements for the self-employed), and property documents such as a certified true copy of the TCT, tax declaration, and vicinity map. OFWs usually need to provide additional documentation such as a contract of employment or proof of remittance. Always confirm the exact checklist with Metrobank, as requirements can vary by property type and borrower profile.
Based on publicly available information, Metrobank's housing loan rates have generally ranged from around 7% to 10% per annum, depending on the fixing period chosen (1, 2, 3, or 5 years) and the borrower's circumstances. After the fixed period ends, the rate reprices according to prevailing market rates, which can significantly increase your monthly payment. These figures are approximate and subject to change — always get an official quote from Metrobank for accurate current rates.
Yes — if your current Metrobank rate has repriced upward or you locked in at a higher rate, refinancing to a lower rate through one of Nook's partner banks could reduce your monthly payments substantially. Nook partner banks currently offer refinance rates starting at 5.99% p.a., and Nook's brokerage service is 100% free to you. You can explore your options and get a comparison without any obligation.
Processing timelines can vary depending on the completeness of your documents and the type of property involved, but housing loan applications at Philippine banks typically take anywhere from 2 to 6 weeks from submission of complete requirements to loan approval. Title transfer and other post-approval steps can add additional time. If speed and a streamlined process are priorities, working with a mortgage broker like Nook can help you compare multiple lenders simultaneously and avoid unnecessary back-and-forth.
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