If you took out a ₱1.8 million home loan a few years ago, you could be overpaying by thousands every month. See exactly how much you can save by refinancing to 5.99% p.a. through Nook — for free.
ESTIMATED MONTHLY SAVINGS
No commitment. No credit check. Just your numbers.
Why this matters
A ₱1.8 million home loan is one of the most common entry points into homeownership in the Philippines — whether it's a condo unit in the metro fringe, a townhouse in an affordable subdivision, or a starter property financed through Pag-IBIG or a bank. But many first-time buyers locked in their loan at rates between 8% and 10%, often without realising that refinancing could dramatically reduce their monthly burden. If your remaining term is still 15 to 20 years, even a 2–3 percentage point rate reduction can translate to hundreds of thousands of pesos in total savings. If you're new to this process, our first-time refinancing guide walks you through everything step by step.
Through Nook, Filipino homeowners can compare refinancing offers from leading banks — including BDO, BPI, Security Bank, RCBC, and more — all in one place, without paying a single centavo in broker fees. Our calculations show that a borrower with a ₱1.8 million loan at 8.50% p.a. on a 20-year term is paying around 15,652 per month. Refinancing to 5.99% p.a. brings that down to approximately 12,921 — a saving of over 2,700 pesos every month. That's more than 32,000 pesos back in your pocket each year.
The process is simpler than most people expect, especially when you have the right support. Nook handles the comparison, paperwork coordination, and bank communication on your behalf. Whether you're salaried or self-employed, there are refinancing options available. You can also read a real story about how Maria refinanced her starter home and what the experience was actually like from start to finish.
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, ₱1.8 million is well within the refinancing range accepted by most Philippine banks and Pag-IBIG. Many lenders have minimum loan amounts starting at ₱500,000 to ₱1,000,000, so your loan qualifies comfortably. Nook can help you find the best available rate for your specific loan size and remaining term.
Based on our calculations, switching from 8.50% to 5.99% p.a. on a ₱1.8 million loan with 20 years remaining saves approximately 2,731 per month and over 491,000 pesos over the life of the loan. Your actual savings will depend on your current rate, remaining balance, and remaining term. Use the calculator above to get a personalised estimate.
Typical requirements include your latest Statement of Account from your current bank, a copy of your Transfer Certificate of Title (TCT) or Condominium Certificate of Title (CCT), proof of income (payslips or ITR), and valid government IDs. Nook will provide you with a complete checklist once you submit your details, so nothing catches you off guard.
Some banks charge a pre-payment or early termination fee, typically ranging from 1% to 3% of the outstanding loan balance, if you refinance within a fixed-rate lock-in period. It's important to check your original loan agreement before proceeding. Nook's team will help you factor any penalty into your savings calculation so you know your true net benefit.
The refinancing process typically takes 4 to 8 weeks from application to loan release, depending on the bank and how quickly documents are submitted. Smaller loan amounts like ₱1.8 million can sometimes move faster through credit approval. Nook streamlines the process by coordinating directly with the bank on your behalf, keeping things moving efficiently.
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