Our refinance housing loan calculator shows you exactly how much you could save every month — just enter your current loan balance and rate to get instant, personalised results.
SAMPLE SAVINGS ESTIMATE
No commitment. No credit check. Just your numbers.
Why this matters
If you've had your home loan for a few years, there's a good chance you're paying more than you need to. Most Filipino homeowners are locked into rates between 7% and 10% — rates that made sense when they signed, but no longer reflect what's available in the market today. A refinance housing loan calculator removes the guesswork: enter your remaining balance, your current interest rate, and your remaining loan term, and you'll instantly see what your new monthly payment could be at today's best rate of 5.99% p.a. through Nook. That's not an estimate pulled from thin air — it's a real rate from a real Philippine bank, available right now.
The numbers can be striking. On a 3,000,000 loan at 8.50% with 20 years remaining, the sample above shows a monthly saving of over 3,000 pesos. Across the life of the loan, that adds up to more than half a million pesos — money that stays in your pocket instead of going to your bank. Before you calculate, it's worth understanding what refinancing costs are involved, since processing fees and other charges affect your true breakeven point. Most borrowers in the Philippines find they recoup those costs within 12 to 24 months, after which the savings are pure upside.
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, and other leading Philippine banks so you don't have to visit each one individually. Once you've seen what the calculator shows, check the refinancing requirements to understand what documents you'll need — the process is more straightforward than most homeowners expect, and Nook guides you through every step.
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 standard amortisation formula to compute your monthly payment under a new interest rate, then compares it to your current payment. You input your remaining loan balance, your current rate, and your remaining term — the calculator instantly outputs your new estimated payment and projected savings. Nook's calculator goes a step further by using live rates from Philippine banks so your estimate reflects what you could actually qualify for today.
Use the rate stated on your most recent bank statement or loan repricing notice — this is usually found in the annual review letter your bank sends you. If you're unsure, most borrowers who took out loans three or more years ago are paying somewhere between 7.50% and 9.50%. The best refinance rate currently available through Nook is 5.99% p.a., which is a useful benchmark to compare against.
The calculator gives you an accurate estimate based on the numbers you enter, but your final rate depends on the bank's credit assessment, your property valuation, and your loan-to-value ratio. In most cases, qualified borrowers achieve a rate very close to what the calculator projects. Nook will confirm your actual rate offer before you commit to anything, with no obligation to proceed.
Using the calculator is completely free, and so is Nook's entire mortgage broking service for borrowers. Nook is paid a referral fee by the bank you choose, not by you. The only costs you may encounter are the standard bank processing and valuation fees that apply to any home loan application — you can read a full breakdown of those in our guide to home loan refinance closing costs in the Philippines.
The typical timeline from application to loan release is 4 to 8 weeks, depending on the bank and how quickly your documents are submitted. Nook streamlines this by handling the paperwork and bank coordination on your behalf, which can significantly cut down waiting time. Once your new loan is approved, your bank will settle the outstanding balance with your current lender and your new — lower — monthly payment begins.
Check your exact savings in 60 seconds. It's free and takes no commitment.
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