If you have a PBCOM home loan, you could be paying thousands more than necessary every month. Nook helps you transfer to a lender offering as low as 5.99% p.a. — for free.
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Why this matters
Philippine Bank of Communications (PBCOM) offers home loans, but like many mid-sized banks in the Philippines, their repricing rates after the fixed period can climb well above what the market's most competitive lenders are offering today. If your PBCOM home loan has already repriced — or is about to — this is the ideal window to explore refinancing. With current mortgage interest rates in the Philippines at historic lows through certain lenders, borrowers are locking in rates as low as 5.99% p.a. through Nook, potentially saving hundreds of thousands of pesos over the remaining life of their loan.
Refinancing your PBCOM mortgage through Nook means you're not just switching banks — you're getting an independent broker working on your behalf to match you with the best available rate from across our panel of Philippine lenders including BDO, BPI, Security Bank, Metrobank, RCBC, and more. You submit one application, we do the legwork, and you choose the offer that suits you best. There are no broker fees charged to you — Nook is completely free for the borrower.
The process is straightforward: submit your documents online, receive bank offers within days, and complete the transfer with full support from our team. Most refinancing transfers take four to eight weeks from application to release. Whether your remaining balance is ₱1.5 million or ₱10 million, refinancing at a lower rate compounds into serious savings — and the sooner you act after your fixed period ends, the more interest you avoid paying unnecessarily.
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 best time to refinance is right before or immediately after your current fixed-rate period ends, when your loan reprices — usually every 1, 3, or 5 years. Refinancing mid-period may trigger prepayment penalties from PBCOM, so check your loan agreement first. If your rate has already repriced upward, you should act quickly since every month at a higher rate is money you won't get back.
PBCOM may charge a prepayment or early redemption penalty if you refinance before your fixed-rate lock-in period expires — this is typically 2% to 3% of the outstanding loan balance. If you're refinancing after your fixed period, penalties usually don't apply. Always request a formal payoff statement and fee schedule from PBCOM before proceeding.
You'll generally need your latest PBCOM Statement of Account, proof of income (payslips or ITR), a copy of the Transfer Certificate of Title (TCT), and a recent tax declaration. Employed borrowers will also need a Certificate of Employment, while self-employed applicants typically provide audited financial statements. Nook will give you a precise checklist based on your profile once you apply.
On a ₱3,000,000 loan with 20 years remaining, switching from 8.50% to 5.99% p.a. can save over ₱3,000 per month and more than ₱550,000 over the remaining term. Exact savings depend on your outstanding balance, remaining term, and the rate you qualify for. Use Nook's free calculator to get a personalised estimate based on your actual loan details.
Yes — many borrowers use refinancing as an opportunity to take out a larger loan than their current outstanding balance, sometimes called a cash-out refinance or equity takeout. This allows you to access the equity built up in your property for renovations, investments, or other needs, while still potentially securing a lower interest rate than your current PBCOM mortgage. Eligibility depends on your property's appraised value and your income qualifications with the new lender.
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