If you have a Sterling Bank home loan, there's a good chance you're paying more than you need to. Nook can help you refinance to as low as 5.99% p.a. — completely free.
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Why this matters
Sterling Bank has long offered home loan products to Filipino borrowers, but like many bank-originated mortgages, the interest rates tend to climb after the initial fixed period ends. Many Sterling Bank borrowers find themselves locked into rates of 8% to 9.5% — sometimes higher — without realising that the broader market has moved significantly. Refinancing simply means replacing your existing loan with a new one at a lower rate, ideally from a lender competing for your business. You can check current mortgage interest rates in the Philippines to see exactly how your Sterling Bank rate compares to what's available today.
The process of switching away from Sterling Bank is more straightforward than most homeowners expect. Nook works as a digital mortgage broker, meaning we compare offers from BDO, BPI, Metrobank, Security Bank, RCBC, and other major Philippine lenders on your behalf — then help you apply to the one that gives you the best rate and terms. There's no fee for borrowers at any stage. On a ₱3,000,000 loan with 20 years remaining, moving from 8.50% to 5.99% could free up over ₱4,500 every single month, which adds up to more than ₱800,000 in total interest savings over the life of the loan.
Eligibility for refinancing is generally accessible if you've been paying your Sterling Bank loan consistently and your property has reasonable market value. Most lenders require at least 12 months of on-time repayments before they'll consider a refinance application. If you're unsure whether you qualify, a Nook advisor can assess your situation in a free consultation and point you toward the right lender. We handle the paperwork, the bank coordination, and the comparison — so you can make a confident decision without the runaround.
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 an active home loan at any time, provided you meet the qualifying criteria of the new lender. Most banks require a minimum of 12 months of satisfactory repayment history before approving a refinance application. Nook will check your eligibility across multiple lenders before you commit to anything.
Nook's service is completely free for borrowers — we earn a referral fee from the bank, not from you. There are standard third-party costs involved in any refinance, such as appraisal fees, transfer taxes, and notarial fees, which typically range from 1% to 2% of the loan amount. Your Nook advisor will give you a full cost estimate upfront so there are no surprises.
Nook works with major Philippine banks including BDO, BPI, Metrobank, Security Bank, RCBC, UnionBank, PNB, Chinabank, EastWest Bank, and others. The right lender depends on your loan size, income profile, and property location. If you're curious about specific requirements, you can review the BPI housing loan requirements as a useful reference point.
The typical refinancing timeline in the Philippines is 30 to 60 days from application to loan release, depending on the lender and how quickly documents are submitted. Nook helps keep the process moving by coordinating directly with the bank on your behalf. Getting your documents prepared early is the single biggest factor in a faster turnaround.
You'll generally need government-issued ID, proof of income (payslips or ITR), your existing Sterling Bank loan statement, the Transfer Certificate of Title (TCT) for your property, and a recent tax declaration. If you're self-employed, additional financial statements may be required. Nook provides a personalised checklist once you submit your initial details so nothing gets missed.
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