Filipino homeowners with a Philippine Bank of Communications home loan could be paying thousands more than necessary each month. Nook helps you compare today's best rates and switch — 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 repricing rates after the initial fixed period can climb well above what the broader market is offering. If your PBCOM home loan has already been repriced — or is coming up for repricing — there's a strong chance you're now sitting on a rate between 8% and 10% p.a., while the best available refinance rates in the Philippines sit as low as 5.99% p.a. That gap translates directly into real money leaving your pocket every single month. You can check current mortgage interest rates in the Philippines to see exactly how your PBCOM rate compares to what other lenders are offering right now.
Refinancing away from PBCOM simply means taking out a new home loan with a different lender — one offering a more competitive rate — and using it to pay off your existing PBCOM balance. The new lender settles your old loan, and you begin repaying the new one at the lower rate. On a 3,000,000 loan with 20 years remaining, moving from 8.50% to 5.99% saves nearly 4,000 pesos every month. Over the remaining life of the loan, that compounds into savings well above 700,000 pesos. Many borrowers who've already researched options like BPI housing loan requirements find that a full refinance via Nook is actually simpler and faster than applying directly.
Nook is the Philippines' first digital mortgage broker, and the entire refinancing service is 100% free to you as the borrower. Nook's team compares offers from BDO, BPI, Metrobank, Security Bank, RCBC, UnionBank, and more — doing the legwork so you don't have to chase multiple banks individually. You'll get a side-by-side comparison of the best available rates, transparent advice on switching costs, and full support through the application process. If you have equity in your home and a PBCOM loan that's been repriced upward, it's almost certainly worth finding 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
The clearest signal is if your loan has been repriced after an initial fixed-rate period and your current rate is above 7.5% p.a. Check your most recent PBCOM loan statement for the interest rate applied. If it's higher than 5.99–6.5%, you are very likely paying more than you need to and a refinance comparison is worth doing.
There are switching costs to factor in — typically a PBCOM pre-termination fee if you're still within a lock-in period, plus standard transfer and documentation fees for the new lender. However, for most borrowers these one-time costs are recovered within 12–18 months of lower monthly repayments. Nook will calculate your exact break-even point before you commit to anything.
Nook works with a wide panel of Philippine banks including BDO, BPI, Metrobank, Security Bank, RCBC, UnionBank, Chinabank, PSBank, and EastWest Bank, among others. The right lender for you will depend on your loan amount, remaining term, income profile, and property location — Nook matches you with the best fit from across that panel.
From the time you submit your documents to the new lender, a refinance typically takes 4–8 weeks to complete in the Philippines. Nook helps you prepare your requirements correctly from the start, which avoids the back-and-forth delays that often slow down direct bank applications. During this time your existing PBCOM loan simply continues as normal.
Yes — Nook is paid a referral fee by the bank you ultimately refinance to, meaning the service costs you nothing. You are never charged a broker fee or advisory fee at any stage of the process. This makes it risk-free to at least find out how much you could save on your PBCOM home loan before making any decision.
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