UnionBank offers a competitive 7.00% p.a. fixed rate — but Nook can help you compare and potentially refinance for as low as 5.99% p.a., completely free.
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Why this matters
UnionBank is one of the Philippines' most digitally forward banks, and their housing loan product reflects that — offering a 1-year fixed rate starting at 7.00% p.a. with flexible loan purposes including ready-for-occupancy properties, pre-selling, renovation, home equity, and even new construction. Minimum monthly income requirement is ₱30,000, and they accept a wide range of employment types: private employees, government workers, BPO professionals, OFWs, seafarers, self-employed individuals, and licensed professionals. If you want to understand exactly what documents you'll need, check out the complete UnionBank housing loan requirements checklist before you apply.
What many homeowners don't realise is that the rate you signed up with years ago is almost certainly higher than what's available today. If you're currently paying 8%, 9%, or even 10% on an existing home loan — whether that's with UnionBank or another lender — refinancing could cut your monthly repayment significantly. On a ₱3,000,000 loan, moving from a 7.00% rate down to 5.99% saves over ₱2,000 every single month. Over the remaining life of a 20-year loan, that compounds into real, life-changing money. Nook's 2026 UnionBank housing loan guide breaks down how the full process works from application to approval.
Nook is the Philippines' first digital mortgage broker, and our service is 100% free for borrowers. We compare UnionBank's housing loan against offers from BDO, BPI, Metrobank, Security Bank, RCBC, and more — so you always know you're getting the best available rate, not just the first one you were offered. There's no obligation, no broker fee, and no paperwork maze. Just answer a few questions and we'll show you exactly what you qualify for. Note: Interest rates are subject to change. Always verify current rates with the bank or through Nook before proceeding.
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
UnionBank currently offers a 1-year fixed rate of 7.00% p.a. on their housing loan product, which also applies to home equity loans. Rates are fixed for the initial period and will reprice afterwards based on prevailing market rates. Always confirm the latest rates directly with UnionBank or through Nook, as rates are subject to change.
UnionBank accepts applications from a broad range of borrowers including private and government employees, BPO workers, OFWs, seafarers, self-employed individuals, and licensed professionals. The minimum monthly income requirement is ₱30,000, and your total debt obligations should not exceed 50% of your gross monthly income. Loan purposes include purchase of RFO and pre-selling properties, new construction, renovation, reselling, and home equity.
Yes — refinancing your existing home loan to a lower rate is one of the most popular use cases on Nook. If you're currently paying more than 7.00% with your current bank, switching to UnionBank or another Nook partner lender could meaningfully reduce your monthly repayment. Nook handles the comparison and application process for free, so you don't need to approach multiple banks yourself.
UnionBank's 7.00% p.a. 1-year fixed rate is competitive within the Philippine market, sitting in line with or below many major banks. However, the best rate for your specific situation depends on your income, loan amount, property type, and loan-to-value ratio. Nook compares live offers from UnionBank alongside BDO, BPI, Metrobank, Security Bank, RCBC, and others so you can see the full picture before deciding.
Processing times vary depending on completeness of your documents and the property type, but most applicants can expect a decision within 5 to 10 business days once all requirements are submitted. Applying through Nook can speed things up because we help you prepare and organise your documents correctly the first time. See the full list of UnionBank housing loan requirements to make sure you have everything ready before you apply.
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