Homeowners at SMDC Grace Residences are saving thousands every month by refinancing to rates as low as 5.99% p.a. — Nook makes the switch completely free.
GRACE RESIDENCES OWNER SAVINGS ESTIMATE
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Why this matters
SMDC Grace Residences sits along Taft Avenue in Pasay, one of Metro Manila's most connected corridors — just minutes from Pasay Rotunda, the NAIA terminals, and the vibrant retail and dining strip running toward Malate. Many unit owners here took out home loans at rates between 8% and 10% when they first purchased, and those rates have quietly compounded into significant overpayments over the years. If your loan has been running for two or more years without a rate review, there's a strong chance you're leaving real money on the table every single month. Refinancing isn't just for people in financial trouble — it's one of the smartest financial moves a property owner can make in a falling-rate environment.
Through Nook, Grace Residences homeowners can compare refinancing offers from over a dozen Philippine banks — including BDO, BPI, Security Bank, Metrobank, RCBC, and more — all in one place. Nook's digital platform handles the legwork of sourcing the best available rate for your outstanding balance, remaining term, and property profile. The process is 100% free to you as the borrower; Nook is compensated by the bank you ultimately choose. If you're also exploring options across Metro Manila's condo market, it's worth reading about the best home loan rates available in Makati to benchmark what competitive refinancing looks like in the region.
The typical Grace Residences unit owner carrying a 3,000,000-peso balance at 8.50% on a 20-year term is paying around 26,123 pesos a month. Refinancing to 5.99% brings that down to approximately 21,573 — a saving of over 4,500 pesos monthly and more than 800,000 pesos across the remaining loan life. For BGC-adjacent condo owners curious how their situation compares, the refinancing experience is similar to what Two Serendra Red Oak owners in BGC have gone through with Nook. Getting started takes only a few minutes online, and there's no obligation to proceed until you see an offer you're happy with.
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. If your loan has since been transferred to a bank or you took out a bank loan directly at purchase, you are eligible to refinance with another bank. Even if you are still on SMDC's in-house terms, it is worth exploring a bank refinance as rates from accredited lenders are typically much lower. Nook can assess your current setup and identify your best option.
Major banks like BPI, Security Bank, BDO, and RCBC are all active lenders in the Pasay corridor and routinely approve refinancing for SMDC properties including Grace Residences. The best rate for you will depend on your outstanding balance, remaining term, income profile, and credit history. Nook compares offers across all of these banks simultaneously so you don't have to apply one by one.
From initial application to loan release, refinancing typically takes four to eight weeks depending on how quickly you can submit documents and how fast the chosen bank processes your file. Nook helps you prepare a complete document package upfront, which significantly reduces back-and-forth delays. Most borrowers who work with Nook experience a smoother and faster process than going directly to a bank.
There are standard closing costs involved in any refinancing — these typically include a transfer fee, notarial fees, appraisal fee, and mortgage registration. These one-time costs are usually recoverable within six to twelve months of your monthly savings. Nook's advisory service itself is completely free to you as the borrower.
You will generally need your existing loan statement of account, a copy of your Condominium Certificate of Title (CCT), your latest income documents (payslips or ITR if self-employed), a valid government-issued ID, and the Deed of Absolute Sale from your original purchase. Nook provides a personalised checklist once you complete your initial profile, so you always know exactly what to prepare.
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