Filipino homeowners are leaving thousands of pesos on the table every year. The best refinance housing loan rates in the Philippines right now start at just 5.99% p.a. — find out how much you could save in minutes, for free.
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Why this matters
If you took out a housing loan in the Philippines more than two or three years ago, there's a strong chance your current interest rate is higher than it needs to be. Many Filipino homeowners are still locked into rates of 8% to 10% — rates that made sense at the time but no longer reflect what's available in today's market. Refinancing your housing loan means replacing your existing loan with a new one at a lower rate, ideally through a bank that's competing hard for your business. The difference between an 8.50% rate and a 5.99% rate on a 3,000,000-peso loan isn't small — it can mean tens of thousands of pesos saved every single year. You can explore how this works in more detail in our guide to refinancing your home loan in the Philippines.
The challenge most homeowners face is that comparing housing loan refinance rates across BDO, BPI, Metrobank, Security Bank, RCBC, UnionBank, and other Philippine banks is genuinely time-consuming. Each bank has its own repricing schedules, fixing periods, and fine print. A 1-year fixed rate that looks attractive may reprice steeply after the lock-in period ends. A longer fixing period gives you stability but may carry a slightly higher rate. Understanding which combination is right for your situation — your remaining term, your outstanding balance, your income profile — is exactly what Nook was built to help you figure out. Our 2026 guide to the best banks for home loan refinancing breaks down the current offers side by side so you can compare with confidence.
Nook is the Philippines' first digital mortgage broker, and our service is completely free to borrowers. We work with all the major Philippine banks and do the legwork of finding the most competitive refinance housing loan rate available for your specific situation. There are no fees, no obligations, and no pressure — just a clear picture of your options and how much you stand to save. Whether your outstanding balance is 1,500,000 or 8,000,000 pesos, and whether you're with a private bank or Pag-IBIG, it's worth taking five minutes to find out if refinancing makes sense for you right now.
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
The best refinance housing loan rates available through Nook currently start at 5.99% p.a. Rates vary depending on the bank, your loan amount, chosen fixing period, and credit profile, so the rate you're offered may differ — but most homeowners we work with find options significantly below their current rate. Getting a personalised rate comparison through Nook is free and takes only a few minutes.
Most major Philippine banks offer home loan refinancing, including BDO, BPI, Metrobank, Security Bank, RCBC, UnionBank, Chinabank, PNB, PSBank, EastWest Bank, and Robinsons Bank. Government financing through Pag-IBIG (HDMF) and Landbank is also available to qualifying borrowers. Each bank has different eligibility criteria, fixing period options, and rate structures, which is why comparing across multiple lenders at once gives you a significant advantage.
On a 3,000,000-peso loan with 20 years remaining, moving from 8.50% to 5.99% saves approximately 3,838 pesos every month — that's over 46,000 pesos per year and more than 690,000 pesos over the life of the loan. Your actual savings depend on your outstanding balance, remaining term, and the rate difference you achieve. Use Nook's free calculator to get a savings estimate based on your real numbers.
There are typically some transaction costs involved in refinancing, such as appraisal fees, registration fees, and documentary stamp tax — these vary by bank and loan amount and usually range from around 30,000 to 80,000 pesos or more. However, for most homeowners the monthly savings achieved through refinancing recover these costs within the first year or two. Nook's service to borrowers is 100% free — we are compensated by the bank, not by you.
The refinancing process in the Philippines typically takes between 30 and 60 days from application to loan release, depending on the bank and the completeness of your documents. The main steps are document submission, property appraisal, credit evaluation, loan approval, and release. Nook guides you through each step and coordinates directly with the bank on your behalf, which helps avoid common delays.
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