Thousands of UnionBank borrowers are overpaying every month — switching to a 5.99% refinance rate could save you over 58,000 pesos a year on a 3-million peso loan. Nook finds you the best deal for free.
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Why this matters
UnionBank is a reputable lender with competitive housing loan products — but if you took out your home loan a few years ago, the rate you locked in then may no longer be the best available in the market today. Many existing UnionBank borrowers are currently paying between 7.50% and 10% per annum, especially those whose fixed-rate period has already repriced. The good news is that refinancing gives you the opportunity to reset your rate and dramatically reduce your monthly obligation. Through Nook, you can access rates starting at 5.99% p.a. — that's a gap that can translate to thousands of pesos in savings every single month. You can also learn more about UnionBank's current housing loan rates and how they compare before making your decision.
Refinancing your UnionBank home loan doesn't have to be complicated. Nook is the Philippines' first digital mortgage broker, and we handle the entire process on your behalf — comparing offers from multiple partner banks, preparing your documents, and coordinating with lenders — all at zero cost to you. Whether you want to lower your monthly payment, shorten your remaining term, or tap into your home's equity, we'll match you with the right product for your situation. Our team works with leading Philippine banks to secure rates that most borrowers wouldn't be able to negotiate on their own. To understand what documents you'll need before applying, check out our UnionBank housing loan requirements guide.
The ideal time to refinance is before your current fixed-rate period ends and your loan reprices — but even if it already has, switching now still makes financial sense for most borrowers. On a 3,000,000 peso loan with 20 years remaining, moving from 8.50% to 5.99% saves roughly 4,850 pesos every month. Over the life of the loan, that's more than 873,000 pesos staying in your pocket instead of going to the bank. Nook's refinancing advisors will run the exact numbers for your loan so you know precisely what you stand to gain before you commit to anything. Note: Interest rates are subject to change. Please verify current rates with Nook or your preferred lender before making any financial decision.
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 are free to refinance your UnionBank home loan with any participating lender — you are not locked in once your fixed-rate period ends, and even during the fixed period, breaking fees are sometimes outweighed by the long-term savings. Nook compares offers from multiple banks so you can choose the lender that gives you the best rate and terms. We handle all coordination with your new lender on your behalf, at no cost to you.
The lowest refinancing rate currently available through Nook is 5.99% per annum, subject to credit assessment and lender approval. Your actual rate will depend on factors like your loan amount, remaining term, property value, and income profile. Nook's advisors will assess your situation and present you with the most competitive offers available from our partner bank network.
Nook's service is completely free for borrowers — we earn a referral fee from the bank, not from you. You will still need to cover standard third-party costs such as appraisal fees, notarial fees, and registration charges, which typically range from 20,000 to 60,000 pesos depending on the loan amount and location. These one-time costs are usually recovered within the first few months of lower monthly payments.
The typical refinancing timeline in the Philippines is 30 to 60 days from application to loan release, depending on how quickly documents are submitted and how fast the new bank processes the application. Nook streamlines the process by guiding you through each step and following up with the lender on your behalf. Preparing a complete set of documents upfront is the single biggest factor in keeping the process on schedule.
You will generally need a valid government-issued ID, your latest payslips or ITR (depending on employment type), a copy of your existing loan statement from UnionBank, your Transfer Certificate of Title (TCT), and the latest real property tax receipt. Employed borrowers will also need a Certificate of Employment, while self-employed applicants typically submit audited financial statements. For a full breakdown, visit our UnionBank housing loan requirements and documents guide.
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