Filipino homeowners are switching to rates as low as 5.99% p.a. through Nook — compare housing loan refinance rates from BDO, BPI, Metrobank, RCBC, Security Bank, and more, completely free.
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Why this matters
The refinance housing loan rate in the Philippines varies significantly from bank to bank — and most homeowners have no idea they're sitting on a rate that's 2 to 4 percentage points higher than what's available today. Whether your loan is with BDO, BPI, Metrobank, RCBC, Security Bank, PNB, or even Pag-IBIG, repricing cycles and fixed-rate lock-in periods often reset to much higher variable rates. Nook was built to solve exactly this problem: we compare live refinancing offers across all major Philippine banks so you don't have to call them one by one. Use our home loan refinance calculator to see your exact savings in under a minute.
Refinancing your housing loan in 2026 can mean locking in a rate as low as 5.99% p.a. — a dramatic improvement over the 8% to 10% rates many Filipinos were locked into during previous fixed-rate periods. On a 3,000,000 loan with 20 years remaining, that gap translates to over 4,500 pesos saved every single month. Over the full remaining term, that's potentially more than 800,000 pesos kept in your pocket rather than paid to your bank. The key is acting before your next repricing date, when banks often reset your rate with little negotiation room. Understanding where Philippine home loan interest rates are heading can help you time your refinance decision wisely.
Nook is the Philippines' first digital mortgage broker, and our service is 100% free to borrowers. We handle the comparison, documentation coordination, and bank negotiations on your behalf — you simply choose the best offer. There are no hidden fees for using Nook's platform; lenders pay us a referral fee when your loan is approved. Whether you're refinancing from a private bank, a cooperative, or a government lender, we can help you find the most competitive housing loan refinance rate available in the Philippines 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
Through Nook, the lowest available refinance rate in the Philippines is currently 5.99% p.a. This rate is offered by select partner banks and is subject to credit evaluation, loan amount, and loan-to-value ratio. Rates may differ depending on whether you choose a 1-year, 3-year, or 5-year fixed-rate period.
BDO, BPI, Metrobank, Security Bank, RCBC, and PNB are among the most competitive banks for housing loan refinancing in the Philippines. However, the best rate for you depends on your remaining loan balance, property value, income profile, and credit history — which is why comparing across multiple banks simultaneously (as Nook does for free) gives you a real advantage.
Savings depend on your current interest rate, remaining balance, and the new rate you qualify for. A borrower with a 3,000,000 loan at 8.50% who refinances to 5.99% can save over 4,500 pesos per month — or more than 800,000 pesos over a 20-year remaining term. You can calculate your specific savings using Nook's free refinance savings calculator.
Most banks require you to have paid at least 12 to 24 months of your current loan before refinancing, and your property must have sufficient equity (typically 80% loan-to-value or lower). You'll also need to submit proof of income, valid IDs, your existing loan statement of account, and property documents such as the Transfer Certificate of Title (TCT) and tax declaration. For a full checklist, see our guide on home loan refinance requirements in the Philippines.
Yes, refinancing does involve closing costs such as appraisal fees, registration fees, notarial fees, and sometimes a mortgage redemption insurance (MRI) payment — typically ranging from 1% to 3% of the loan amount. However, these one-time costs are almost always recovered within 6 to 18 months of monthly savings, making refinancing worthwhile in most cases. Nook's service itself is completely free to borrowers; we're compensated by the bank when your refinance is approved.
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