Philippine mortgage rates vary widely across banks — and most homeowners are paying 2% to 4% more than they need to. Compare 2026 rates from BDO, BPI, Metrobank, Security Bank, and more, then find the lowest rate available to you — free through Nook.
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Why this matters
Mortgage loan interest rates in the Philippines in 2026 depend on which bank you borrowed from, when you locked in your rate, and whether your fixed-rate period has expired. Most major banks — including BDO, BPI, Metrobank, Security Bank, and RCBC — offer fixed periods of 1, 3, 5, or 10 years. After that period ends, your rate reprices, often to a higher level than when you first signed. If you took out your home loan two or more years ago, there is a strong chance your current rate no longer reflects what the market can offer you today. Understanding where Philippine home loan rates are heading can help you decide when — and whether — to act.
Refinancing allows you to move your existing home loan to a new lender at a lower interest rate. On a 3,000,000 peso loan, the difference between paying 8.50% and 5.99% translates to nearly 4,000 pesos less per month — money that stays in your pocket every single month for the remainder of your loan term. Nook works with all major Philippine banks and lenders to find you the most competitive rate available, handling the comparison and paperwork on your behalf at absolutely no cost to you. Before you apply, it is worth using a home loan refinance calculator to see exactly how much you could save based on your specific loan balance, remaining term, and current rate.
To qualify for refinancing in the Philippines, you generally need at least 12 months of on-time payments on your existing loan, a property with sufficient equity, and stable proof of income. The process typically takes four to eight weeks from application to loan release, and closing costs — which include notarial fees, mortgage registration, and appraisal — are a one-time expense that most borrowers recover within the first year of savings. The long-term financial benefit of locking in a lower rate far outweighs the upfront costs for the majority of homeowners who refinance.
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
Through Nook, the lowest refinance rate currently available is 5.99% per annum. Rates offered directly by individual banks typically start slightly higher, and the rate you qualify for will depend on your loan amount, remaining term, property type, and credit profile. Nook compares across multiple lenders simultaneously so you do not have to apply one by one.
There is no single bank that consistently offers the best rate for every borrower — the most competitive offer depends on your specific loan profile, the property location, and current bank promotions. BDO, BPI, Security Bank, and RCBC are frequently competitive, but rates shift regularly. The most reliable way to find the best rate for your situation is to compare multiple banks at once through a broker like Nook.
Banks in the Philippines typically update their published home loan rates every quarter, though promotional rates can change more frequently. Your personal rate is locked in for whatever fixed period you agreed to at signing — commonly 1, 3, or 5 years. Once that period ends, your loan reprices based on the bank's then-current rate, which is why many homeowners find their repayments increasing after a few years.
Generally, yes — the more years remaining on your loan, the greater the total interest savings from refinancing to a lower rate. Even a 1.5% reduction on a 3,000,000 peso loan with 15 or more years remaining can save hundreds of thousands of pesos over the life of the loan. The key is to ensure your monthly savings exceed your one-time closing costs within a reasonable payback period, typically one to two years.
No — Nook's service is completely free to the borrower. Nook earns a referral fee from the bank or lender when your loan is successfully processed, so you receive independent rate comparison, application support, and document guidance at zero cost. You are never charged a fee for using Nook, regardless of whether you proceed with a refinance.
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