Filipino homeowners are overpaying thousands every month. Use our refinance housing loan calculator to find out exactly how much you could save by switching to 5.99% p.a. — the best rate available in the Philippines today.
YOUR ESTIMATED MONTHLY SAVINGS
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Why this matters
A refinance housing loan calculator does one simple but powerful thing: it shows you the real peso difference between what you're paying now and what you could be paying. If your home loan was fixed two or three years ago, there's a strong chance your current rate sits somewhere between 7% and 10% — while the best refinance rates available through Nook today start at just 5.99% p.a. On a 3,000,000-peso loan with 20 years remaining, that gap can translate to over 3,000 pesos in monthly savings, or more than half a million pesos across the life of your loan. Understanding where interest rates are heading in the Philippines can help you decide whether now is the right time to move.
Using a calculator is the fastest way to cut through the noise and get a number that actually means something to your household budget. You don't need to call a bank or sit through a sales pitch — just enter your current loan balance, your existing interest rate, and your remaining term. The calculator handles the amortisation math instantly and gives you a clear monthly and annual savings figure you can act on. For a deeper look at the full picture, including fees and timing, our guide to refinance closing costs in the Philippines is worth reading before you commit.
Nook is the Philippines' first digital mortgage broker, and our service is completely free to borrowers. We compare offers from BDO, BPI, Metrobank, Security Bank, RCBC, UnionBank, Chinabank, and more — so you get the most competitive rate without doing the legwork yourself. Once your calculator results look promising, our team can validate your numbers with actual bank quotes and guide you through the application process 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
A refinance housing loan calculator uses your current loan balance, remaining term, and existing interest rate to compute your current monthly amortisation. It then recalculates that same loan at a lower refinance rate — in this case 5.99% p.a. — and shows you the difference. The result is your estimated monthly and total savings if you refinance today.
The calculator gives you an accurate estimate based on standard amortisation, but your actual bank offer may vary slightly depending on your credit profile, remaining term, and which lender you qualify with. Think of the calculator result as a reliable ballpark — Nook then works with multiple banks to find you the closest match to that best-case scenario.
Enter your current outstanding loan balance — not your original loan amount — along with the number of years remaining on your loan. If you're unsure of your exact balance, check your latest bank statement or loan summary. Most Filipino borrowers refinance amounts between 1,500,000 and 10,000,000 pesos with 15 to 25 years remaining.
Yes, refinancing typically involves one-time closing costs such as appraisal fees, documentary stamp tax, and mortgage registration fees, which commonly range from 1% to 2% of the loan amount. However, for most borrowers, the monthly savings recoup these costs within 12 to 24 months. Our guide to refinance closing costs breaks down exactly what to expect.
The typical refinancing process takes four to eight weeks from application to loan release, depending on the bank and how quickly documents are submitted. Nook helps streamline this by guiding you through the requirements for refinancing in the Philippines and coordinating directly with lenders on your behalf. Our service is 100% free to borrowers.
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