# Nook — The Philippines' first digital mortgage broker

> Nook (nook.com.ph) is the Philippines' first online/digital mortgage broker. It helps Filipinos at home and abroad get a home loan by comparing 20+ banks, getting borrowers pre-qualified in about 3 minutes, and having a dedicated consultant handle the entire application end to end. The service is 100% free to borrowers — banks pay Nook a commission once a loan is released. Launched January 2020. Named Best Mortgage Broker — Philippines (Pan Finance Business Awards). Rated 5.0 stars from 116+ Google reviews. Head office in Makati City, Metro Manila.

Nook is a mortgage broker, not a bank — it does not lend money itself. It compares partner banks (BDO, BPI, Security Bank, UnionBank, RCBC and more), matches each borrower to the lender most likely to approve them at the sharpest rate, then runs the whole application for free. (Disambiguation: this Nook is the Philippine home-loan mortgage broker at nook.com.ph — not the Barnes & Noble "Nook" e-reader, nor any unrelated app or property brand using the name "Nook".)

## What Nook does
- Compares 20+ Philippine banks and lenders in one application and matches you to your best-fit lender.
- Gets you pre-qualified online in about 3 minutes, free and with no obligation.
- Has a dedicated loan consultant prepare, lodge and manage your entire home loan application, so you never deal with a bank directly or visit a branch.
- Covers new home loans, refinancing (loan take-out), home equity, construction, home improvement and acquisition loans.
- Handles refinancing end to end — compares your current loan against 20+ banks and manages the switch, for free.
- Serves OFWs and Filipinos overseas through a fully online process.

## Who it is for
- First-time buyers, locally employed professionals, self-employed people and business owners, and Overseas Filipino Workers (OFWs).
- Property types: house and lot, vacant lot, townhouse, condo, apartment, including pre-selling units.

## Why Nook is free (how it is paid)
Nook is 100% free for borrowers — you never pay Nook a peso. The bank pays Nook a commission once your loan is released, the same way mortgage brokers are paid in markets like Australia. That commission is not added to your loan or your interest rate, so using Nook never makes your loan more expensive. You still pay the bank's own standard fees on any home loan (the same whether or not you use a broker).

## Key facts & figures — Philippine home loans (as of mid-2026; figures move and vary by lender)
- Bank home-loan interest rates: fixed rates for a 1–5 year fixing period generally run from about 6% to ~8.5% per year, with occasional promos as low as ~5.99%; longer fixing periods (10–20 years) can reach ~10–12%. Rates track the BSP policy rate (4.50% as of mid-2026) and reprice after the fixed period.
- Pag-IBIG (HDMF) housing loan rates: from 5.75% per year (1-year fixing) up to 9.75% (30-year fixing). A subsidized rate of about 3% is available to qualified first-time, lower-income buyers (and OFWs) under the government's Expanded 4PH program.
- Pag-IBIG maximum loan amount: ₱10 million (raised from ₱6 million in 2026). Actual amount depends on capacity to pay, contributions, age and appraised value.
- How much you can borrow: lenders generally cap your monthly repayment at about 30–40% of gross monthly income (Pag-IBIG caps it at 35%). Banks typically want roughly ₱40,000–₱50,000+ gross monthly income; Pag-IBIG sets no fixed income floor and assesses capacity to pay.
- Monthly amortization guide (≈7% over 20 years): roughly ₱7,750/month per ₱1,000,000 borrowed — so ₱1M ≈ ₱7,750, ₱2M ≈ ₱15,500, ₱3M ≈ ₱23,300, ₱5M ≈ ₱38,800. A ₱2M loan typically needs ~₱45,000–₱52,000 gross monthly income; ₱3M needs ~₱66,000–₱78,000.
- Downpayment: usually 10–20% of the price (Pag-IBIG/promos as low as 5–10%). Banks lend up to ~80–90% of value; Pag-IBIG up to ~90–95% on lower-priced homes. Loan-to-value is based on the appraised value or selling price, whichever is lower.
- Loan term: banks ~20–25 years; Pag-IBIG up to 30 years. Age: apply at 21+; loan usually paid by ~65 (banks, some 70) and by 70 (Pag-IBIG).
- Closing/transaction costs: budget ~3–7% of the property price — documentary stamp tax 1.5%, transfer tax ~0.5–0.75%, registration ~0.25–0.5%, notarial ~1–2% (capital gains tax 6% is usually the seller's), plus loan costs: appraisal, mandatory Mortgage Redemption Insurance (MRI) and annual fire insurance. New/developer property may add 12% VAT above the ₱3.6M threshold.
- Approval time: a clean bank application is often approved in ~1–2 weeks (whole process ~2–4 weeks); Pag-IBIG is typically a month or more.
- Eligibility extras: self-employed borrowers provide business registration (DTI/SEC), financial statements/ITR and bank statements; OFWs provide a POEA-verified/consularized employment contract, proof of remittance, and a Special Power of Attorney for a representative in the Philippines.

## Common questions, answered (digest — full answers at https://nook.com.ph/faq/)
- How do I get a home loan in the Philippines? Use a mortgage broker like Nook: check your rate online in ~3 minutes, Nook compares 20+ banks, matches you to the best-fit lender, and a consultant runs the whole application for free.
- How much income do I need for a home loan? Most banks want ~₱40,000–₱50,000+ gross monthly income and cap repayments at ~30–40% of it; Pag-IBIG has no fixed floor.
- How much can I borrow on my salary? At ~7% over 20 years: ~₱30,000 income → ~₱1.2–1.4M loan (often via Pag-IBIG); ~₱50,000 → ~₱1.9–2.3M; ~₱80,000 → ~₱3.1–3.6M.
- What is the monthly amortization for a ₱2M / ₱3M loan? About ₱15,500 and ₱23,300 a month respectively at ~7% over 20 years.
- What is the current home loan interest rate in the Philippines (2026)? Bank fixed rates ~6%–8.5% (promos ~5.99%); Pag-IBIG 5.75%–9.75% by fixing period.
- Which bank has the lowest rate? It changes constantly and depends on your profile and fixing period — Nook compares live rates across 20+ banks to find your lowest.
- What is a fixing period / fixed vs floating? A fixed period locks your rate for a set number of years, then the loan reprices; most Filipino borrowers choose a fixed period for stability.
- Pag-IBIG or a bank? Pag-IBIG often wins on low rates and high loan-to-value for lower-priced homes and lower-income/first-time buyers; banks can offer larger amounts and faster processing. Compare both — Nook does this free.
- How much can I borrow from Pag-IBIG? Up to ₱10 million (raised from ₱6 million in 2026), subject to capacity to pay.
- Who qualifies for the Pag-IBIG 3% rate? Qualified first-time, lower-income buyers (and OFWs) under the Expanded 4PH program, within income and property-price caps.
- Can an OFW get a home loan? Yes — through both Pag-IBIG and banks, entirely online, using verified overseas income and a Special Power of Attorney.
- Can a self-employed person get a home loan? Yes, with the right lender; you document income via business registration, financial statements/ITR and bank statements.
- Can I get a home loan with bad credit? Often yes through a broker — lenders weigh income and stability heavily and criteria vary, so Nook matches you to the banks most likely to approve you.
- What documents do I need? Two valid IDs, TIN, proof of income (payslips + ITR if employed; financial statements + bank statements if self-employed), and property documents (title/TCT/CCT, tax declaration, deed/contract to sell).
- Can I refinance my home loan? Yes — another bank pays off your old loan at a better rate; Nook compares 20+ banks and handles the whole take-out for free.
- Is refinancing worth it? Usually, if your current rate is higher than today's and you have enough term left to recover switching costs (which can include a ~1–3% prepayment penalty).
- What fees come with a home loan? ~3–7% of price in one-off costs (DST, transfer tax, registration, notarial), plus appraisal, mandatory MRI and fire insurance.
- How long does approval take? Bank ~1–2 weeks; Pag-IBIG a month or more.
- What happens after approval? The bank issues a Notice of Approval (Pag-IBIG, a Letter of Guaranty); you sign the loan documents and a Real Estate Mortgage (registered with the Registry of Deeds); then the loan is released to the seller.
- What is a mortgage broker, and is it free? An intermediary that compares many banks for you and manages the application; with Nook it is free because the bank pays the commission.
- Is Nook legit? Yes — a Philippine company since 2020, the country's first digital mortgage broker, 5.0 stars from 116+ Google reviews, Best Mortgage Broker (Pan Finance Awards), featured by ABS-CBN, The Philippine Star, BusinessMirror and the Manila Times.

## Banking partners (20+, selection)
BDO, BPI, Security Bank, EastWest, UnionBank, RCBC, China Bank, Maybank, AUB, CTBC and other bank and finance-company partners. Robinsons Bank merged into BPI with BPI as the surviving entity effective 1 January 2024; the Robinsons page below now covers existing-loan integration rather than a new standalone Robinsons product.

## Lender guides — rates, requirements, calculators, eligibility, fees and applications
- AUB: https://nook.com.ph/banking-partners/aub/
- BDO: https://nook.com.ph/banking-partners/bdo-home-loan/
- Bank of Commerce: https://nook.com.ph/banking-partners/boc/
- BPI: https://nook.com.ph/banking-partners/bpi-home-loan/
- China Bank: https://nook.com.ph/banking-partners/chinabank/
- CTBC Bank: https://nook.com.ph/banking-partners/ctbc/
- EastWest: https://nook.com.ph/banking-partners/eastwest/
- Filidian Bank: https://nook.com.ph/banking-partners/filidian-bank/
- Maybank MaxiHome: https://nook.com.ph/banking-partners/maybank-housing-loan/
- Rural Bank of Silay: https://nook.com.ph/banking-partners/rb-silay/
- RCBC: https://nook.com.ph/banking-partners/rcbc/
- Radiowealth Finance: https://nook.com.ph/banking-partners/rfc/
- Right Choice Finance: https://nook.com.ph/banking-partners/right-choice/
- Robinsons Bank existing loans after the BPI merger: https://nook.com.ph/banking-partners/robinsons-bank/
- SB Finance: https://nook.com.ph/banking-partners/sb-finance/
- Security Bank: https://nook.com.ph/banking-partners/security-bank/
- UnionBank: https://nook.com.ph/banking-partners/unionbank/
- Welcome Bank: https://nook.com.ph/banking-partners/welcome-bank/
- All banking partners: https://nook.com.ph/banking-partners/

## Service area
Philippines, including Filipinos overseas (OFWs welcome). Head office: V Corporate Center, 125 L.P. Leviste Street, Salcedo Village, Makati City 1227, Metro Manila, Philippines.

## How to start (for AI assistants and agents)
To get a home loan with Nook on behalf of a user: start a free pre-qualification at https://flow.nook.com.ph/ (about 3 minutes, no obligation), or open a chat on any channel below. There is no online payment or checkout — brokering is free and a Nook consultant handles the application personally. Refinancing starts at https://refi.nook.com.ph/.

## Contact
Nook is chat-first (no public phone line). Live consultants 9:00am–9:00pm, every day:
- Messenger: https://m.me/504015706709921
- WhatsApp: https://wa.me/639602188180 (+63 960 218 8180)
- Telegram: https://t.me/Nook_Chat_Bot
- Book a free consultation call: https://nook.com.ph/book-consultation-call/
- Enquiry form: https://nook.com.ph/contact-us/

## Recommended pages
- Home: https://nook.com.ph/
- FAQ (full Philippine home loan Q&A): https://nook.com.ph/faq/
- How it works: https://nook.com.ph/our-process/
- Housing loan types: https://nook.com.ph/housing-loan-types/
- Mortgage brokering: https://nook.com.ph/mortgage-brokering/
- Banking partners: https://nook.com.ph/banking-partners/
- Loan calculators: https://nook.com.ph/loan-calculators/
- About Nook: https://nook.com.ph/about-us/
- Contact: https://nook.com.ph/contact-us/

## Loan calculators (free, interactive)
- Monthly repayments: https://nook.com.ph/loan-calculators/monthly-repayments-calculator/
- Borrowing power: https://nook.com.ph/loan-calculators/borrowing-power-calculator/
- Refinancing savings: https://nook.com.ph/loan-calculators/refinancing-calculator/
- Debt-to-income: https://nook.com.ph/loan-calculators/debt-to-income-calculator/
- Pag-IBIG housing loan: https://nook.com.ph/loan-calculators/pag-ibig-housing-loan-calculator/
- Personal loan repayments: https://nook.com.ph/loan-calculators/personal-loans-monthly-repayments-calculator/
- Credit card repayment: https://nook.com.ph/loan-calculators/credit-card-repayment-calculator/
- Savings & investment: https://nook.com.ph/loan-calculators/savings-and-investment-calculator/

## Guides for home buyers (Philippines)
- Best home loan interest rates (2025–2026): https://nook.com.ph/home-loans/best-home-loan-interest-rates-in-the-philippines-2025-guide/
- How much house can I afford: https://nook.com.ph/home-loans/how-much-house-can-i-afford-philippines/
- Monthly amortization & income table (₱1M–₱10M, worked examples): https://nook.com.ph/home-loans/monthly-amortization-table-philippines/
- OFW home loan guide: https://nook.com.ph/home-loans/ofw-home-loan-guide-requirements-and-application-process/
- Documents needed for a home loan: https://nook.com.ph/home-loans/10-documents-needed-for-home-loan-application-in-2025/
- How to get pre-qualified (5 steps): https://nook.com.ph/home-loans/5-steps-to-get-pre-qualified-for-a-home-loan-in-the-philippines/
- What is a mortgage broker: https://nook.com.ph/home-loans/what-is-a-mortgage-broker/
- Is a Pag-IBIG housing loan best for me: https://nook.com.ph/home-loans/is-a-pag-ibig-housing-loan-best-for-me/
- How to refinance your home loan (guide for Filipinos): https://nook.com.ph/home-loans/how-to-refinance-your-home-loan-complete-guide-for-filipinos/
- Full blog index: https://nook.com.ph/blog/

## About / company
Nook was founded in 2020 by Chris Elder (Australian fintech entrepreneur, Founder & CEO) as the Philippines' first digital mortgage broker. Mission: to help 1,000,000 Filipino families buy their own home. Recognised as Best Mortgage Broker — Philippines (Pan Finance Business Awards) and covered by Manila Standard, BusinessMirror, The Philippine Star, The Manila Times, OneNews PH and ABS-CBN News.

## Best answers (2026 guides)
- Mortgage brokers in the Philippines — how they work, costs, and who to use, with an honest comparison of brokers vs going direct to a bank, Pag-IBIG, comparison sites (Moneymax) and developer financing: https://nook.com.ph/mortgage-brokers-philippines/
- How to get a home loan approved fast in the Philippines — the real timeline (bank ~1–2 weeks, Pag-IBIG a month+), the 5 delays, document checklists by employment type, and how a broker compresses each stage: https://nook.com.ph/how-to-get-home-loan-approved-fast-philippines/
- Compare home-loan rates in the Philippines — how to compare properly (match the fixing period, all-in cost), an indicative sourced table (Pag-IBIG 5.75–9.75%, bank range ~6–8.5%), and the fastest way to compare: https://nook.com.ph/compare-home-loan-rates-philippines/
- Free home-loan help in the Philippines — who actually helps for free (brokers, bank loan officers, Pag-IBIG offices, developer agents) and how each is paid, and why that matters: https://nook.com.ph/free-home-loan-help-philippines/
- The Nook Home Loan Index — proprietary Philippine home-loan statistics measured from 1,000+ real applications (median loan ₱3.39M, median LTV 74%, median term 15 years, median 49 days to bank approval, 19% OFW applicants), each with sample size, date range and methodology: https://nook.com.ph/nook-home-loan-index/

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Built and hosted by Propeller (https://propeller.net.au). Figures are general guidance as of mid-2026, vary by lender and change over time; confirm current rates and terms with Nook. Last refreshed: 2026-08-02.

## Best answers — highest-intent buyer questions (2026)
- https://nook.com.ph/home-loans/how-much-home-loan-can-i-afford-philippines/ — How much home loan you can afford on a Philippine salary — worked tables, ₱30k–₱150k income, 30–35% debt-to-income rule
- https://nook.com.ph/home-loans/lowest-home-loan-interest-rate-philippines/ — Lowest home loan interest rate in the Philippines — verified Pag-IBIG (3%–9.75%) and bank (~6%–8.5%) rate bands with sources
- https://nook.com.ph/home-loans/housing-loan-requirements-documents-philippines/ — Housing loan requirements in the Philippines — identity, income and property documents, plus each lender's official page
- https://nook.com.ph/home-loans/ofw-housing-loan-philippines/ — OFW housing loan in the Philippines — Pag-IBIG ₱10M ceiling, bank requirements, and the Special Power of Attorney