Refinance Home Loan Philippines: Which Banks Accept Transfers in 2026

Refinance Home Loan Philippines: Which Banks Accept Loan Transfers in 2026

If you're carrying a home loan in the Philippines, there's a good chance you're paying more interest than you need to. Many Filipino homeowners are locked into rates of 7% to 10% per year — rates that were fixed years ago and never revisited. In 2026, the refinancing landscape has opened up significantly, and a growing number of banks are actively competing to take over your existing loan.

This guide covers exactly which banks accept home loan transfers, what rates they're offering, and how to get approved faster using a digital mortgage broker like Nook.

What Does It Mean to Refinance a Home Loan?

Refinancing means replacing your existing home loan with a new one — ideally at a lower interest rate, with better terms, or both. You don't move house. You don't lose your property. You simply switch lenders (or renegotiate with your current one) to reduce your monthly amortization or shorten your loan term.

Here's a straightforward example. Suppose you have an outstanding balance of 4,000,000 on a 20-year loan at 9% per year. Your monthly payment is approximately 35,989. If you refinance that same balance to 5.99% — the best rate currently available through Nook — your monthly payment drops to roughly 28,633. That's a savings of over 7,300 per month, or about 87,700 per year. Over five years, that's more than 438,000 back in your pocket.

The math makes a compelling case for at least exploring your options. The question is: which banks will actually take your loan?

Banks That Accept Home Loan Transfers in 2026

Not every bank actively markets loan transfers, but most major Philippine commercial banks do accept them. Here's a practical overview of where to look:

BDO Unibank

BDO is the country's largest bank by assets and one of the most active in home loan refinancing. They accept transfers from virtually all other banks and Pag-IBIG, and they offer fixed-rate periods of 1, 2, 3, 5, and 10 years. Their rates are competitive and they have a wide branch network for document submission, which many applicants find convenient.

Bank of the Philippine Islands (BPI)

BPI is known for relatively streamlined processing and a strong digital application portal. They accept transfers from other banks and are open to Pag-IBIG fund transfers. BPI is a popular choice for applicants with clean credit histories looking for a hassle-free process.

Metrobank

Metrobank accepts inward loan transfers and is particularly competitive for loan amounts above 3,000,000. Their fixed-rate options mirror most major banks, and they have dedicated home loan officers who can guide you through the transfer documentation.

Security Bank

Security Bank has been aggressively growing its home loan portfolio and offers some of the more competitive rates in the market. They accept transfers and are known for faster-than-average processing times compared to some larger banks.

PNB (Philippine National Bank)

PNB accepts loan transfers and is a solid option, particularly for OFWs and overseas-based borrowers. They have a dedicated OFW desk and international correspondent banking relationships that make documentation easier for borrowers abroad.

RCBC

Rizal Commercial Banking Corporation is an active participant in the refinancing market. Their rates are competitive and they accept transfers from most major lenders including Pag-IBIG. RCBC is worth including in any comparison.

UnionBank

UnionBank has invested heavily in digital infrastructure and their home loan process reflects this. They accept loan transfers and are particularly suited to tech-savvy borrowers who prefer managing their application online.

Chinabank

China Banking Corporation is a strong option for borrowers in Metro Manila and key urban centers. They accept transfers and offer competitive fixed-rate periods.

EastWest Bank

EastWest Bank accepts inward transfers and tends to be more flexible on certain documentation requirements, which can be helpful for self-employed borrowers or those with non-standard income structures.

PSBank

Philippine Savings Bank, a subsidiary of Metrobank, accepts refinancing applications including loan transfers. Their rates tend to track closely with the parent bank.

Pag-IBIG (HDMF)

Pag-IBIG is a government fund rather than a commercial bank, but it's one of the most important refinancing options in the Philippines — especially for borrowers who qualify as active Pag-IBIG members. Their rates are among the lowest available and they accept transfers from commercial banks. If you're currently with a commercial bank and are an active Pag-IBIG contributor, transferring to Pag-IBIG can yield significant savings. See our detailed Pag-IBIG refinancing requirements and step-by-step application guide for everything you need to know.

What Rate Can You Actually Get?

This is where it gets nuanced. Bank advertised rates and actual approved rates are not always the same thing. The rate you get depends on several factors:

• Outstanding loan balance: Larger balances (above 3,000,000) often attract slightly better rates because they're more profitable for the bank.
• Loan-to-value (LTV) ratio: If your property has appreciated significantly and your outstanding balance is a smaller percentage of the current appraised value, you're a lower-risk borrower and can negotiate better terms.
• Credit history: Clean payment history on your existing loan is the single strongest indicator banks use when evaluating transfers.
• Income stability: Salaried employees of large corporations or government agencies typically get the most favorable treatment. Self-employed borrowers can still qualify, but documentation requirements are more extensive.
• Fixed-rate period selected: A 1-year fixed rate will almost always be lower than a 5-year fixed rate. The tradeoff is that after the fixed period ends, your rate reprices to whatever the bank's prevailing rate is at that time.

Through Nook, the best available refinance rate in 2026 is 5.99% per annum. To put this in context: if you're currently paying 8.5%, refinancing to 5.99% on a 3,500,000 balance over a remaining 18-year term reduces your monthly payment from approximately 33,742 to roughly 27,119. That's 6,623 per month saved.

How the Loan Transfer Process Works

Refinancing your home loan to a new bank follows a fairly consistent sequence, regardless of which lender you choose:

1. Gather your documents. You'll need a photocopy of your existing loan's Statement of Account (SOA), your latest property tax declaration, the Transfer Certificate of Title (TCT) or Condominium Certificate of Title (CCT), proof of income, and valid government IDs. Some banks may request additional documents.
2. Get a property appraisal. The new bank will conduct their own appraisal of your property. This is typically arranged and paid for by the borrower (cost ranges from 3,500 to 8,000 depending on the bank and property location).
3. Receive a Letter of Guarantee (LOG). Once the new bank approves your application, they issue a LOG to your current lender committing to pay off your outstanding balance.
4. Your current bank releases the title. Your existing lender cancels the mortgage annotation on your TCT/CCT and hands over the original title to the new bank's legal team.
5. New mortgage is annotated. The new lender registers their mortgage on your title at the Registry of Deeds.
6. You begin paying the new bank. Your old account is closed and you start your new, lower monthly amortization.

End-to-end, this process typically takes 45 to 90 days depending on the bank's processing speed, the Registry of Deeds backlog in your area, and how quickly you can submit complete documentation.

Costs to Factor In

Refinancing is not completely free, but the costs are almost always recovered within the first year of savings. Here's what to budget for:

• Appraisal fee: 3,500 to 8,000
• Processing or application fee: Some banks charge 5,000 to 15,000; others waive this as a promotional offer
• Documentary Stamp Tax (DST): 1.5% of the loan amount — this is the most significant upfront cost
• Mortgage registration fee: Varies by loan amount, typically 5,000 to 15,000
• Attorney's fees / notarial fees: 3,000 to 8,000
• Prepayment penalty from current lender: Check your existing loan agreement. Many banks waive this after the 3rd or 5th year of the loan. Some charge 2% to 5% of the outstanding balance if you exit during a fixed-rate lock-in period.

Total upfront costs typically range from 50,000 to 120,000 on a mid-sized loan. Against monthly savings of 5,000 to 10,000, most borrowers break even within 6 to 15 months.

Why Use Nook Instead of Going Directly to a Bank?

When you apply to a bank directly, you get one offer. When you work with Nook, you get your profile assessed against multiple lenders simultaneously — without the legwork of filling out separate applications for each one.

Nook is the Philippines' first digital mortgage broker. The service is completely free to borrowers. Nook earns a referral fee from the bank that wins your loan, which means there's no conflict of interest and no cost to you. Nook's team reviews your documents, identifies which banks are most likely to approve your profile, and submits on your behalf. This saves weeks of back-and-forth and significantly increases your approval odds by matching you to lenders whose current appetite aligns with your loan profile.

If you want a broader look at how a mortgage broker can improve your refinancing outcome, the complete guide to using a Filipino mortgage broker walks through the full picture in detail.

Common Mistakes to Avoid

• Choosing the lowest advertised rate without checking the re-pricing terms. A 5.50% rate that reprices to 10% after one year can cost you more than a stable 6.50% over five years.
• Not checking for prepayment penalties with your current lender first. Call your bank before starting the process and ask specifically about the penalty for early settlement.
• Submitting incomplete documents. Missing a single document can delay your application by weeks and cause some lenders to deprioritize your file.
• Waiting too long. Interest rates can move. If you're paying above 7% right now and you've been in your loan for more than three years, the break-even math almost certainly works in your favor today.

Is Refinancing Right for You?

Refinancing makes the most financial sense when: your current rate is at least 1.5 to 2 percentage points above available refinance rates; you have at least 5 to 10 years remaining on your loan term (enough time to recover costs and enjoy the savings); and your property value has held or increased, keeping your LTV ratio manageable.

If you're unsure whether the numbers work for your specific situation, Nook's team can run a personalized calculation for you at no cost. There's no obligation to proceed, and the comparison alone is often eye-opening for homeowners who haven't revisited their loan in several years.