If you have a Sterling Bank home loan, you could be paying thousands more per month than necessary. Nook helps you transfer to a lower rate — for free.
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Why this matters
Sterling Bank borrowers on older fixed-rate packages are often locked into rates of 8% to 9% or higher — rates that made sense when they were set, but no longer reflect what the market offers today. With refinancing rates now available as low as 5.99% p.a. through Nook, transferring your home loan could cut your monthly payment by tens of thousands of pesos over the life of your loan. You can check today's mortgage interest rates in the Philippines to see exactly how your current Sterling Bank rate compares.
A refinancing transfer means your outstanding home loan balance is paid off by a new lender offering better terms. The process sounds complex, but Nook handles the lender matching, paperwork coordination, and comparison work on your behalf — at zero cost to you. Most borrowers are surprised to find how straightforward it is once they have a dedicated mortgage broker in their corner.
The right time to refinance is typically when your current fixed-rate period is ending, or when there is a significant gap between your existing rate and what the market offers. For a ₱3,000,000 loan with 20 years remaining, even a 2.5 percentage point reduction translates to over ₱700,000 in total interest savings. Nook works with all major Philippine banks — including BDO, BPI, Security Bank, RCBC, Metrobank, and more — so you get a genuine comparison, not a single-bank pitch.
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, this is called a home loan transfer or refinancing transfer, and it is a standard and widely available product among Philippine banks. Your new lender pays off your outstanding Sterling Bank balance, and you continue repayments under a new, lower-rate agreement. There are no restrictions preventing you from switching lenders once any applicable lock-in period has passed.
Through Nook, the best available refinancing rate is currently 5.99% p.a., offered by partner banks subject to credit assessment and loan-to-value requirements. Many Sterling Bank borrowers are on rates of 8% to 9.5%, meaning a transfer could meaningfully reduce both your monthly payment and total interest paid. Rates vary by lender, loan amount, and loan term, so it pays to compare across multiple banks.
Nook's service is completely free for borrowers — we are compensated by the bank when your loan is approved, not by you. You will still need to budget for standard refinancing costs such as appraisal fees, documentary stamp tax, and registration fees, which typically range from 1% to 2% of the loan amount. Nook will walk you through all expected costs upfront so there are no surprises.
The typical timeline for a home loan refinancing transfer in the Philippines is 30 to 60 days from application to loan release, depending on how quickly documents are submitted and how efficiently the receiving bank processes the application. Nook helps you prepare your documents correctly the first time, which significantly reduces delays. Your Nook mortgage advisor will keep you updated at every stage.
You will generally need your latest Statement of Account from Sterling Bank, proof of income (payslips or ITR for the past two years), your Transfer Certificate of Title, and a copy of your existing loan documents. Requirements can vary slightly between banks — for example, if you are considering BPI as your new lender, you can review the BPI housing loan requirements to prepare in advance. Your Nook advisor will give you a personalised checklist based on the lender you are applying to.
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