If your Sterling Bank home loan is on a rate above 7% p.a., you could be leaving serious money on the table every single month. Nook helps you switch to rates as low as 5.99% p.a. — for free.
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Why this matters
Sterling Bank has served Filipino homeowners for decades, but like many traditional lenders, their repriced home loan rates can creep well above what the broader market is offering. If your loan has already passed its fixed-rate period and rolled onto a floating or repriced rate, there is a strong chance you are now paying 8% or more per annum — significantly higher than the current mortgage interest rates available in the Philippines through competitive banks. That gap translates directly into thousands of pesos lost every month.
Refinancing means replacing your existing Sterling Bank home loan with a new loan from a different lender at a lower interest rate. The process is more straightforward than most homeowners expect: Nook works as your digital mortgage broker, gathering your details once and then presenting your application to multiple banks simultaneously. We handle the paperwork, the bank negotiations, and the follow-ups — so you spend your time reviewing offers, not chasing them. Our service is completely free to borrowers; the bank that wins your loan pays our fee.
On a 3,000,000 peso loan with a 20-year remaining term, moving from 8.50% to 5.99% p.a. cuts your monthly repayment by over 4,000 pesos. Over the life of your loan, that adds up to hundreds of thousands of pesos in interest saved. Whether your property is in Metro Manila, Cebu, or elsewhere in the Philippines, Nook can match you with the right bank for your situation. If you are also considering banks like BPI for your refinancing, we can compare them side by side so you get the best deal available to you.
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 to a different bank is a standard and widely available option in the Philippines. Once your loan has been active for a qualifying period — typically at least one year — you are generally free to move your home loan to any lender offering better terms. Nook can help you identify which banks will accept your property and borrower profile.
Refinancing does involve some one-time costs, including appraisal fees, documentary stamp tax, and registration fees — typically ranging from 1% to 2% of the loan amount. However, these upfront costs are usually recovered within the first 12 to 18 months of lower repayments, after which you are in pure savings territory. Nook's brokerage service itself is 100% free to you as the borrower.
Once you submit your documents, most bank approvals take between three and six weeks. Nook streamlines the process by preparing your application correctly from the start, reducing back-and-forth with the bank. Full loan release and title transfer to the new bank typically completes within 60 to 90 days.
Standard requirements include valid government-issued ID, proof of income (payslips or ITR for the past two years), your existing loan statement from Sterling Bank, the property's Transfer Certificate of Title (TCT), and a recent tax declaration. Employed and self-employed borrowers have slightly different document sets, and Nook will give you a personalised checklist once you sign up.
Through Nook, the most competitive rate currently available is 5.99% per annum on a fixed-rate period, subject to bank qualification and property appraisal. The rate you receive will depend on your loan-to-value ratio, income profile, and the bank you qualify with. Nook compares multiple lenders so you always see the best offer you are eligible for, not just the first one available.
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