If you have a Sterling Bank home loan, there's a good chance you're paying a rate that's 1 to 3 percentage points higher than what's available today. Nook helps you compare and refinance — completely free.
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Why this matters
Sterling Bank of the East has long been a go-to lender for Filipino homebuyers, particularly in Metro Manila and surrounding provinces. But like most bank home loans in the Philippines, Sterling Bank's housing loan rates are fixed only for an initial period — typically 1 to 5 years — before repricing to a higher rate. If your fixed period has already ended, there's a strong chance your current rate is sitting somewhere between 8% and 10%, costing you tens of thousands of pesos every year more than necessary. You can check how your rate compares against current mortgage interest rates in the Philippines to see exactly where you stand.
Refinancing means replacing your existing Sterling Bank home loan with a new loan from a competing bank at a lower interest rate. The process sounds complicated, but that's exactly what Nook exists to simplify. As the Philippines' first digital mortgage broker, Nook submits your application to multiple banks simultaneously — BPI, BDO, Security Bank, RCBC, and others — and presents you with the best offers side by side. There are no broker fees, no commissions charged to you, and no obligation to proceed until you find an offer you're happy with. If you're curious about what other banks require, the BPI housing loan requirements guide is a useful reference point for understanding typical documentation across lenders.
The best refinance rate currently available through Nook is 5.99% per annum — a full 2.5 percentage points below a typical repriced Sterling Bank rate. On a 3,000,000 peso loan with 20 years remaining, that difference translates to over 3,000 pesos in monthly savings and more than half a million pesos over the life of the loan. Even if your savings are more modest, refinancing is almost always worth exploring when your fixed period is up. Nook's team of mortgage specialists will walk you through whether the numbers make sense for your specific situation before you commit to anything.
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, you can refinance at any point, but timing matters. If you're still within your initial fixed-rate period, check your loan agreement for any prepayment penalties — these can sometimes offset the savings from a lower rate. Once your fixed period ends and your rate reprices, refinancing usually makes clear financial sense.
Nook's service is completely free to borrowers — we earn a referral fee from the bank you choose, not from you. There are standard government fees involved in any refinance (transfer taxes, registration, notarial fees, and a new appraisal), which typically range from 1% to 2% of the loan amount. These are one-time costs that most borrowers recover within 6 to 12 months of lower payments.
Nook works with major Philippine banks including BPI, BDO, Security Bank, Metrobank, RCBC, UnionBank, Chinabank, PNB, and more. We submit your application to multiple lenders at once so you can compare actual offers rather than guessing which bank will give you the best deal.
The typical refinance takes 6 to 10 weeks from application to loan release, depending on how quickly documents are submitted and how busy the receiving bank is. Nook assigns you a dedicated mortgage specialist who follows up with the bank on your behalf to keep things moving as fast as possible.
You'll generally need your latest official receipt and Statement of Account from Sterling Bank, a copy of your Transfer Certificate of Title (TCT), proof of income (payslips or ITR for self-employed borrowers), and valid government-issued IDs. Nook will give you a complete personalised checklist after your initial assessment so nothing is missed.
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