If you have a home loan with Philippine Bank of Communications, you could be paying significantly more than you need to. Nook helps you refinance to rates as low as 5.99% p.a. — completely free of charge.
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Why this matters
Philippine Bank of Communications (PBCOM) offers home loans to Filipino borrowers, but like many mid-sized banks, their mortgage rates are rarely the most competitive on the market. If you took out your PBCOM home loan more than two or three years ago, there's a strong chance you're locked into a rate between 8% and 10% — well above what leading banks are currently offering. Refinancing means replacing your existing loan with a new one from a different lender at a better rate, and for most PBCOM borrowers, the savings can be substantial. You can check current mortgage interest rates in the Philippines to see exactly how your PBCOM rate stacks up against the market today.
Nook is the Philippines' first digital mortgage broker, and we work with all the major banks — BDO, BPI, Metrobank, Security Bank, RCBC, UnionBank, and more — to find you the lowest available rate for your situation. We handle the comparison, the paperwork, and the bank negotiations on your behalf. Our service is 100% free to you as the borrower; we are compensated by the bank when your loan is successfully approved. There are no hidden fees and no obligation to proceed after your consultation. Many borrowers refinancing away from PBCOM find that BPI and Security Bank offer particularly competitive packages — if you're exploring your options, it's worth reviewing BPI housing loan requirements to understand what you'll need to qualify.
The refinancing process in the Philippines typically takes four to eight weeks from application to loan release. To qualify, your property must have a clean title, you'll need to demonstrate stable income, and your outstanding loan balance should generally be at least 1,000,000 pesos. Most homeowners are surprised at how straightforward the switch can be — especially with a broker managing the process. If your PBCOM fixed-rate period is ending soon, or if you've never reviewed your rate since taking out your loan, now is the right time to find out what you could save.
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
Refinancing during a lock-in period is possible but usually involves a penalty fee charged by PBCOM, typically between 1% and 3% of your outstanding loan balance. It's worth calculating whether the long-term interest savings outweigh this one-time cost — for most borrowers with a significant rate gap, they do. Nook can help you run the numbers so you can make an informed decision.
On a 3,000,000 peso loan with 20 years remaining, moving from an 8.50% rate to 5.99% could save you over 4,500 pesos every month — more than 800,000 pesos across the remaining loan term. Your actual savings will depend on your outstanding balance, remaining term, and the rate you qualify for. Nook will give you a personalised savings estimate based on your real loan details.
Nook works with a broad panel of Philippine banks including BDO, BPI, Metrobank, Security Bank, RCBC, UnionBank, Chinabank, PNB, EastWest Bank, and Robinsons Bank. We compare offers across all of them simultaneously to find the best rate and terms for your profile. You don't need to approach each bank separately — we do that work for you.
You'll generally need your latest Statement of Account from PBCOM, proof of income (payslips or ITR for the last two years), a copy of your property's Transfer Certificate of Title, and valid government-issued ID. Employed and self-employed borrowers have slightly different document requirements depending on the receiving bank. Nook will give you a complete personalised checklist once you submit your details.
The typical refinancing timeline in the Philippines is four to eight weeks from the time you submit a complete application to a new bank. Key steps include credit evaluation, property appraisal, and loan documentation — all of which Nook coordinates on your behalf. Starting the process early, especially before your PBCOM fixed-rate period expires, gives you the most time to secure the best possible terms.
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