Homeowners with a Philippine Veterans Bank home loan are switching to commercial banks and saving thousands every month. Nook finds you the best available rate — completely free.
YOUR ESTIMATED MONTHLY SAVINGS
No commitment. No credit check. Just your numbers.
Why this matters
Philippine Veterans Bank (PVB) has a proud history of serving Filipino veterans and their families, but its home loan rates are not always the most competitive in the market. Many PVB borrowers find themselves locked into rates of 8% to 9% or higher — rates that were perhaps reasonable at the time of their original loan but now look expensive compared to what commercial banks are offering. If your PVB mortgage is a few years old, there is a strong chance you are overpaying every single month. Refinancing means switching your outstanding loan balance to a new lender at a lower interest rate, which directly reduces your monthly amortisation. For a 3,000,000 peso loan, even shaving 2 percentage points off your rate can put over 3,000 pesos back in your pocket every month.
Nook is the Philippines' first digital mortgage broker, and we work with all the major commercial banks — BDO, BPI, Security Bank, Metrobank, RCBC, and more — to find you the lowest available refinance rate. The best rate currently on the market is 5.99% p.a., and qualifying borrowers can access it regardless of which bank currently holds their mortgage. Our team handles the comparison, the paperwork coordination, and the bank negotiations on your behalf. You can check today's mortgage interest rates in the Philippines to see exactly how PVB stacks up against the competition before you decide anything.
Switching banks sounds complicated, but Nook makes it straightforward. We guide you through every step — from document gathering to loan approval — and our service costs you nothing. Nook is paid by the bank you ultimately switch to, so there is no fee, no hidden charge, and no obligation on your part. If refinancing does not make financial sense for your situation, we will tell you honestly. Our goal is to help every Filipino homeowner make the smartest decision for their family's finances, not just to close a transaction.
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 simply means taking out a new loan from a different lender to pay off your existing PVB balance. Commercial banks like BPI, BDO, Security Bank, and others actively welcome refinance applicants, and Nook helps you find the best offer available for your specific loan amount and property.
Savings depend on your outstanding balance, remaining term, and current rate, but PVB borrowers on rates of 8% to 9% switching to around 5.99% can typically save between 3,000 and 6,000 pesos per month on a 3,000,000 peso loan. Over a 15-year remaining term, that adds up to hundreds of thousands of pesos in total interest saved.
You will generally need your latest PVB loan statement, a copy of your Transfer Certificate of Title (TCT), proof of income such as pay slips or ITR, and a valid government ID. If you are considering BPI as your new lender, you can review the full BPI housing loan requirements in the Philippines to get a head start on preparation.
PVB, like most lenders, may charge a pre-termination or early settlement fee if you pay off your loan before the end of your fixed-rate period — typically around 2% to 3% of the outstanding balance. Nook will factor this cost into your savings calculation so you can see whether refinancing still makes sense net of any exit fees.
The typical refinance process takes between 4 and 8 weeks from application to loan release, depending on the receiving bank's processing time and how quickly documents are submitted. Nook helps keep things moving by tracking your application and coordinating with both your old and new lender on your behalf.
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