Interest Rates Comparison
Metrobank Home Loan Rates
- Standard Fixed Rate: 7.5% - 9.5% p.a. (approximate)
- Promotional rates may be available for qualified borrowers
- Rates vary based on loan amount and borrower profile
Note: Metrobank rates shown are approximate based on publicly available information and subject to change. Actual rates may vary.
UnionBank Home Loan Rates (Nook Partner)
- 1-Year Fixed Rate: 7.00% p.a.
- Home Equity Rate: 7.00% p.a.
- Verified rates through Nook partnership
Advantage: Guaranteed competitive rates with free broker service through Nook.
Loan Requirements Comparison
| Requirement | Metrobank | UnionBank (via Nook) |
|---|---|---|
| Min Monthly Income | P25,000 - P40,000 | P30,000 |
| Max Debt-to-Income | Up to 50% | 50% |
| Employment Types | Private, Government, OFW | Private, Government, BPO, OFW/Seafarer, Self-Employed, Professional |
| Processing Time | 15-30 days | 10-20 days (with Nook) |
Loan Purposes Accepted
Metrobank
- Home purchase
- Refinancing
- Construction
- Home improvement
UnionBank (via Nook)
- Foreclosed properties
- Home equity loans
- New construction
- Pre-selling units
- Ready for occupancy (RFO)
- Renovation projects
- Reselling properties
Monthly Payment Comparison
Here's how monthly payments compare for a P3,000,000 loan over 20 years:
| Bank | Interest Rate | Monthly Payment | Total Interest |
|---|---|---|---|
| Metrobank (est. 8.5%) | 8.5% p.a. | 26,254 | 3,300,960 |
| UnionBank via Nook | 7.0% p.a. | 23,265 | 2,583,600 |
| Monthly Savings | - | 2,989 | 717,360 |
By choosing UnionBank through Nook's platform, you could save P2,989 monthly and P717,360 in total interest over the loan term.
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Compare My Options →Frequently Asked Questions
Which bank offers better refinance rates - Metrobank or UnionBank?
UnionBank offers more competitive rates at 7.00% through Nook's verified partner network, compared to Metrobank's typical range of 7.5-9.5%. This rate difference can save you thousands monthly on a standard home loan.
What are the income requirements for Metrobank vs UnionBank home loans?
UnionBank requires a minimum monthly income of P30,000, while Metrobank typically requires P25,000-P40,000 depending on the loan product. Both banks accept up to 50% debt-to-income ratio, but UnionBank offers more flexible employment type acceptance.
How much can I save by refinancing from Metrobank to UnionBank?
On a P3,000,000 loan, switching from Metrobank's typical 8.5% rate to UnionBank's 7.0% rate could save you P2,989 monthly and over P717,000 in total interest over 20 years. Use Nook's free calculator to see your potential savings.
Can I refinance my existing Metrobank home loan with UnionBank through Nook?
Yes, you can refinance your existing Metrobank home loan with UnionBank through Nook's platform. The process is 100% free, and Nook handles all paperwork and negotiations to secure the best possible rate for your situation.
What's the advantage of applying through Nook vs directly with the banks?
Applying through Nook gives you access to verified partner bank rates, free broker service, faster processing times, and expert guidance throughout the refinancing process. You get professional negotiation power without any fees, unlike traditional mortgage brokers.