Use Nook's free refinance housing loan calculator to instantly see how much you could save every month. Filipino homeowners are saving an average of ₱4,850/month just by switching to a lower rate.
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No commitment. No credit check. Just your numbers.
Why this matters
A refinance housing loan calculator does one simple thing: it shows you what your monthly repayment would look like at a lower interest rate, compared to what you're paying now. If you took out your home loan more than two years ago, there's a strong chance your current rate is between 7.5% and 10% — well above the 5.99% p.a. refinance rates now available through Nook. On a ₱3,000,000 loan with 20 years remaining, that difference alone translates to over ₱4,800 in monthly savings. You can explore the full savings breakdown using our home loan refinance calculator to run the numbers on your exact balance and remaining term.
Calculating your refinancing savings isn't just about the monthly payment. You also need to factor in closing costs — things like bank processing fees, appraisal fees, and documentary stamp tax — which typically range from 1% to 2% of your outstanding loan. Most homeowners recover these costs within 12 to 18 months through their monthly savings, making refinancing a smart move as long as you plan to stay in your home for a few more years. For a detailed breakdown of what to expect, read our guide on home loan refinance closing costs in the Philippines.
Nook's service is completely free for borrowers. We work with leading Philippine banks — including BDO, BPI, Metrobank, Security Bank, RCBC, and more — to find you the best available rate, handle the paperwork, and coordinate the entire process on your behalf. You don't need to call multiple banks or negotiate on your own. Just enter your current loan details, see your personalised savings estimate, and let Nook do the rest.
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 calculator uses your current outstanding loan balance, remaining term, and existing interest rate to compute your current monthly payment. It then recalculates that payment using a lower refinance rate — in Nook's case, as low as 5.99% p.a. — so you can see the exact peso difference every month. The result gives you a clear, data-driven reason to act (or wait).
Yes — 5.99% p.a. is the best refinance rate currently available through Nook, offered by select partner banks for qualified borrowers. Your actual rate will depend on your loan amount, remaining term, property type, and credit profile. Nook shops multiple banks simultaneously to find the best rate you personally qualify for, at no cost to you.
Use your current outstanding balance — not your original loan amount — as this is what you'll be refinancing. For the term, you can choose to match your remaining years or extend slightly to reduce monthly payments further. Most borrowers in the Philippines refinance balances between ₱1,500,000 and ₱10,000,000 with 15 to 25 years remaining.
Yes, refinancing involves one-time closing costs such as bank processing fees, appraisal fees, notarial fees, and documentary stamp tax — typically totalling 1% to 2% of your loan amount. These are paid upfront but are usually recovered within 12 to 18 months through your monthly savings. Your net long-term savings are almost always significantly higher than these costs.
The typical refinancing process in the Philippines takes 4 to 8 weeks from application to loan release, depending on the bank and completeness of your documents. Nook manages the entire process — from bank selection to document submission and follow-ups — so you're not chasing the bank yourself. Getting started takes less than five minutes online.
Check your exact savings in 60 seconds. It's free and takes no commitment.
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