Homeowners with an SB Finance home loan are often paying rates well above what major Philippine banks offer today — refinancing through Nook could slash your monthly payment by thousands of pesos.
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Why this matters
SB Finance Company — the consumer lending arm of Security Bank — offers home loans, but many borrowers find that after a few years their rate no longer looks competitive against the broader market. If your SB Finance home loan is sitting at 9% or higher, you could be significantly overpaying every single month. The good news is that refinancing lets you transfer your outstanding loan balance to a major Philippine bank at a much lower rate, reducing your monthly amortisation and freeing up cash for the things that matter. You can check current mortgage interest rates in the Philippines to see exactly how your SB Finance rate compares right now.
Through Nook, the Philippines' first digital mortgage broker, you can compare refinancing offers from banks like BDO, BPI, Metrobank, Security Bank, PNB, RCBC, and more — all in one place, at no cost to you. Nook handles the paperwork, coordinates with lenders, and guides you through every step of the process. On a 3,000,000 peso loan, switching from a 9.50% rate to Nook's best available rate of 5.99% p.a. saves roughly 4,850 pesos every month. Over a 15-year remaining term, that adds up to more than 873,000 pesos in total savings — money that stays in your pocket.
The refinancing process is more straightforward than most homeowners expect. You'll need standard documents such as your latest SB Finance loan statement, proof of income, and property documents — similar to what you submitted when you first took out your loan. If you're also considering a fresh home loan application at a major bank, it helps to review what lenders require; for example, BPI's housing loan requirements give a clear picture of the typical documentation checklist. Nook's team will tell you exactly what to prepare and make sure your application is as strong as possible before it reaches any bank.
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
Yes, absolutely. Refinancing simply means a new lender pays off your existing SB Finance balance and issues you a new home loan at a lower rate. As long as your property has sufficient equity and you meet the new lender's credit requirements, you are free to move your loan to any participating bank. Nook will match you with the best available offer based on your specific loan profile.
The savings depend on your current rate, outstanding balance, and remaining term, but the difference can be substantial. A borrower with a 3,000,000 peso loan at 9.50% switching to 5.99% saves roughly 4,850 pesos per month — that is over 58,200 pesos a year. Use Nook's free calculator to get a personalised estimate based on your actual numbers.
Nook's service is completely free for borrowers — Nook is paid by the banks, not by you. You will still need to account for standard refinancing costs such as appraisal fees, documentary stamp tax, and mortgage registration, which are typical for any home loan in the Philippines. Nook will give you a full breakdown of these costs upfront so there are no surprises.
The typical refinancing timeline in the Philippines runs from four to eight weeks from the time you submit a complete set of documents to final loan release. Delays usually happen when documents are incomplete or the property valuation takes time, so Nook helps you prepare everything correctly from the start. Once approved, your new lender pays off SB Finance directly and your new lower monthly payments begin.
You will generally need a valid government-issued ID, proof of income (payslips or ITR for employed borrowers, audited financial statements for self-employed), your latest SB Finance loan statement of account, a copy of your Transfer Certificate of Title, and a tax declaration for the property. Your Nook advisor will provide a complete personalised checklist once you start your application. Having everything organised in advance is the single biggest factor in speeding up approval.
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