Thousands of Filipino homeowners are still paying 7% or higher on their UnionBank home loan. Refinancing through Nook could drop your rate to 5.99% p.a. — and it costs you nothing to find out.
ESTIMATED MONTHLY SAVINGS
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Why this matters
UnionBank is one of the Philippines' most prominent digital banks, and their home loan products are widely used across Metro Manila and key urban centres. However, if you took out your UnionBank housing loan several years ago, there's a strong chance your current interest rate — locked in during a higher-rate environment — no longer reflects what's available in the market today. Rates as low as 5.99% p.a. are now accessible through Nook, and switching could mean saving tens of thousands of pesos every year. You can review UnionBank's current housing loan rates and requirements to understand where your existing loan stands before making a move.
Refinancing your UnionBank home loan doesn't mean you have to leave UnionBank — but it does mean exploring whether a competing lender can offer you a significantly better deal. Through Nook, you can compare offers from over a dozen Philippine banks and lenders in one place, with zero broker fees charged to you. Our team handles the paperwork, the bank coordination, and the rate negotiations on your behalf. If you're unsure whether refinancing makes sense for your situation, our UnionBank housing loan requirements guide is a great starting point to understand what documentation and eligibility criteria are typically involved.
The numbers speak for themselves: on a 3,000,000 loan with a 20-year remaining term, moving from 8.50% to 5.99% saves you over 3,800 pesos every single month. That's money back in your pocket for your family, your savings, or your next investment. Nook is 100% free to borrowers — we're compensated by the banks, not by you. Please note that interest rates are subject to change and we recommend verifying the latest rates directly with lenders or through Nook before making any financial decisions.
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 your UnionBank home loan by switching to another lender that offers a lower interest rate. This is called external refinancing, and it's a completely standard practice in the Philippines. Nook can help you compare offers from multiple banks to find the best available rate for your situation.
Savings depend on your outstanding loan balance, remaining term, and the rate difference between your current loan and the new offer. On a 3,000,000 loan at 8.50%, switching to 5.99% saves approximately 3,869 per month — or over 46,000 per year. Use Nook's free calculator or speak with our advisors to get a personalised estimate.
Yes, Nook charges borrowers absolutely nothing for its mortgage broker service. We are compensated directly by the banks when a loan is successfully placed, which means you get expert guidance, document support, and access to multiple lenders at zero cost to you.
Generally, you'll need to have a good credit history, a stable income source, and at least 12 months of on-time payments on your existing loan. Lenders will also assess your debt-to-income ratio and the current value of your property. Nook's advisors will walk you through everything you need to prepare before submitting your application.
The refinancing timeline in the Philippines typically ranges from 4 to 8 weeks, depending on the speed of document submission and the lender's processing time. Nook helps streamline this by guiding you through each step, following up with banks on your behalf, and flagging any missing requirements early in the process.
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