If you're still paying your PBCOM housing loan at a rate above 7%, you could be leaving thousands of pesos on the table every year. Nook finds you a lower rate — for free.
PBCOM BORROWER SAVINGS ESTIMATE
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Why this matters
PBCOM (Philippine Bank of Communications) offers housing loan products to Filipino homebuyers, but like many bank-originated loans, the rate you signed up with years ago may no longer be competitive. Philippine mortgage rates reprice periodically, and if your loan has been running for a few years, your current rate could be significantly higher than what the market is offering today. Refinancing your PBCOM housing loan means taking out a new loan — typically with a different bank — at a lower interest rate to pay off your existing balance, reducing your monthly amortisation and freeing up cash every month. To understand where rates stand right now, check out current mortgage interest rates in the Philippines so you can see exactly how your PBCOM rate compares.
The refinancing process in the Philippines can feel complicated — you need to approach multiple banks, compare their offers, prepare a stack of documents, and negotiate terms on your own. Nook simplifies this entirely. As the Philippines' first digital mortgage broker, Nook works with a panel of top Philippine banks including BDO, BPI, Security Bank, Metrobank, RCBC, and more, to find you the best available rate for your loan profile. The best rate currently available through Nook is 5.99% p.a. — a rate most borrowers simply cannot access by walking into a single bank branch. Our service is completely free to you as a borrower; the bank pays us when your loan is successfully placed.
Whether your PBCOM housing loan is for a condominium unit in Metro Manila, a house and lot in the provinces, or a townhouse in a suburban development, refinancing could cut your monthly payment by thousands of pesos. The savings on a 3,000,000 loan switching from 8.50% to 5.99% over a 20-year term amount to over 550,000 pesos in total interest saved. That is money that stays in your pocket — for your children's education, emergency savings, or simply a better quality of life. Getting started with Nook takes just a few minutes online, and our advisors will guide you through every step.
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
Yes, absolutely. Refinancing your PBCOM housing loan with another bank is a straightforward and common practice in the Philippines. Nook works with a wide panel of banks and can match you with the lender offering the most competitive rate for your specific loan profile and property type.
Your savings depend on your remaining loan balance, current rate, and the new rate you qualify for. On a 3,000,000 peso loan at 8.50%, switching to 5.99% p.a. saves approximately 3,069 pesos per month and over 552,000 pesos in total interest across a 20-year term. Use Nook's free assessment to get a personalised savings estimate.
PBCOM, like most Philippine banks, may charge a pre-termination or prepayment penalty if you exit your loan within a lock-in period — typically the first one to three years of the loan term. It is important to check your original loan agreement for these terms before proceeding. Nook's advisors can help you assess whether the savings from refinancing outweigh any exit fees.
The standard documents for a housing loan refinance in the Philippines include your latest Statement of Account from PBCOM, proof of income (payslips or ITR), valid government-issued IDs, your Transfer Certificate of Title (TCT) or Condominium Certificate of Title (CCT), and your tax declaration. The exact requirements vary by the receiving bank — for example, you can review a detailed checklist in our BPI housing loan requirements guide to get a sense of what lenders typically ask for.
The refinancing process in the Philippines typically takes between 30 and 60 days from application to loan release, depending on the receiving bank's processing times and how quickly documents are submitted. Nook streamlines this by handling the coordination with the bank on your behalf, so you spend less time chasing paperwork and more time planning what to do with your monthly savings.
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