Refinance your home loan
Ready to switch your home loan? We've got you. Move off yesterday's rates — Nook finds you a better deal across 20+ Philippine banks and handles the entire refinance takeout for you, for free.
What is refinancing?
Refinancing means replacing your existing home loan with a new one — generally to save money by securing a better deal.
A home loan refinance (sometimes called a loan takeout in the Philippines) typically gives you a lower interest rate, a shorter loan term, and — if your property has grown in value — maybe even some extra cash in your pocket. Instead of staying locked into the rate you signed up for years ago, you move your balance to a lender offering better terms today.
The catch is that comparing banks, weighing switching costs and managing the paperwork is time-consuming and confusing to do alone. That's where Nook comes in. We're a full-service mortgage brokerage — not a self-serve form. A dedicated loan consultant compares 20+ banks for you, recommends the right refinance product, and runs the whole takeout end to end so you never deal with a bank directly. And because the bank pays Nook a commission once your loan is released, it's 100% free to you.
The benefits of refinancing with Nook
A few good reasons Filipino homeowners switch their loan.
Lower your interest rate
If today's rates are sharper than the one you're paying, refinancing can cut your monthly repayment and your total interest over the life of the loan.
Shorten your loan term
Comfortable with a higher monthly payment? A shorter term means you own your home outright sooner and pay less interest overall.
Unlock your home equity
If your property has increased in value, you may be able to borrow extra against that equity — for renovations, education, a car or other goals.
Nook does the takeout
Your dedicated consultant prepares the paperwork, chases follow-ups and handles all bank communication. You don't fill in forms or visit branches.
100% free to you
Banks pay Nook a commission once your loan is released. There's no cost to use Nook's brokering service to compare and switch.
Award-winning service
Nook is the Philippines' original and award-winning mortgage broker — Awarded Best Mortgage Broker Philippines by Pan Finance.
Is now the right time to refinance?
Refinancing isn't right for everyone, every time. It's usually worth a free comparison when one of these is true.
Good reasons to refinance
- ✓ Your current rate is higher than what's available today.
- ✓ Your fixed-rate lock-in period is ending or has ended.
- ✓ Your property has gained value and you want to draw on the equity.
- ✓ You want to shorten your term and pay off your home faster.
- ✓ You want one clearer, better-structured loan.
Worth checking first
- ! Switching costs typically run about 2%–3% of your loan amount.
- ! Some loans carry pre-termination or early-exit fees.
- ! Your savings should outweigh the cost of switching.
- ! Your credit profile and property value will affect your options.
- ! A Nook expert can tell you — for free — if it's worth it.
How to refinance a housing loan
Seven straightforward steps to a successful housing loan refinance — with Nook doing the heavy lifting.
Decide on your purpose
Do you want a lower interest rate, a shorter term, or to borrow from your home equity? Knowing your goal shapes the right refinance.
Assess your financial health
Every bank assesses your credit standing. Reviewing your finances early helps you understand which lenders you're well placed to switch to.
Assess your budget
Refinance costs can range from about 2%–3% of your loan amount. Ask a Nook expert which banks roll switching costs into the loan so you pay nothing out of pocket.
Approximate your home's value
If your property has increased in value, you may be able to borrow extra. A current valuation tells you how much equity you can access.
Shop around carefully
Nook compares 20+ banks and helps you decide which home loan refinance product suits your current situation best.
Lock in your rate
Once you've chosen your preferred bank, Nook locks in your housing loan interest rate for your desired fixed period — for example 1, 3 or 5 years.
Complete your refinance
Work with Nook to finalise the takeout, then enjoy your better rate and more financial freedom — with Nook beside you the whole way.
One application, every major bank
Nook compares refinance offers across the country's biggest lenders and matches you to the best fit.
Common questions about refinancing
Straight answers for Filipino homeowners thinking about switching their home loan.
Is it free to refinance with Nook?
Yes. Nook is 100% free to the borrower. The bank pays Nook a commission once your refinanced loan is released, so you pay nothing for Nook's service. You'll still have standard bank-side refinance costs, which typically run about 2%–3% of the loan amount — but a Nook expert can point you to lenders that roll those switching costs into the loanable amount so you have little to no out-of-pocket expense.
When should I refinance my home loan?
Consider refinancing when your current rate is higher than what's available today, when your fixed-rate lock-in period is ending, when your property has gained value and you want to borrow against the equity, or when you want to shorten your term and pay off your home faster. A Nook consultant can compare your current loan against 20+ banks for free and tell you whether switching is worth it.
Does Nook handle the refinance application for me?
Yes. Nook is a full-service mortgage brokerage, not a self-serve platform. A dedicated loan consultant runs your entire refinance — comparing lenders, preparing paperwork, chasing follow-ups, and managing all the back-and-forth with the bank — so you never deal with a bank directly. You don't fill in bank forms or visit branches; Nook does it for you.
How much does it cost to refinance a housing loan in the Philippines?
Bank-side refinance or takeout costs typically range from about 2% to 3% of your loan amount, covering items like appraisal, processing and registration fees. Nook's brokering service itself is free. Some banks let you fold the switching costs into the new loan amount, so a Nook expert can match you to a lender where you have no out-of-pocket expense.
Can I get cash out when I refinance?
Often, yes. If your property has increased in value since you bought it, you may be able to borrow against that home equity when you refinance — freeing up cash for renovations, education, a car, or other goals. Your borrowing capacity depends on your property's current value and the lender's policy. A Nook consultant can estimate how much equity you may be able to access.
How long does it take to refinance with Nook?
You can check your rate and get pre-qualified in about 3 minutes online. The full refinance approval timeline depends on the bank, your documents and the property appraisal, but because Nook handles the paperwork, follow-ups and bank communication for you, the process moves faster and with far less back-and-forth than applying on your own.
Which bank should I refinance with?
There's no single best bank — the right lender depends on your rate goal, loan size, property type and financial profile. Nook compares 20+ major Philippine banks including BDO, BPI, Security Bank, RCBC, UnionBank and more, then matches you to the lender most likely to approve you at the sharpest refinance rate. Comparing through Nook is free.
Ready to switch your home loan?
Start your refinance with Nook and we'll compare 20+ banks, find you a sharper rate, and handle the entire takeout — for free. Check my rate in 3 minutes.
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