Consumer Reviews and Complaints
I refinanced twice with Network Capital. Fool me once, shame on me. The first refinance took a long time (over 3 months) and was fraught with poor communications on the part of Network Capital. I had to complain many times to get anyone to respond to me on where the loan process was. In the end it worked out and I was happy.
A year later, they contacted me again. I told them I was reluctant to engage them after my first experience. They convinced me, and am I ever sorry. This process took equally as long, and the communications were worse than the first time. In addition, I have to bring almost $6,000 to the table, a big surprise that forced me to take money out of my retirement account and pay a penalty. This year, they contacted me again, and I let them know in no uncertain terms that I would never consider them again.
I started refinancing Jan 10, 2017. It's March 25 now and still not closed. Was told three times I was closing and wait for the notary the first time for 3 hours till I called and told couldn't today. What might be the last straw here is after jumping through hoops I was told today that I needed to provide my medical information. I am disabled and showed proof of pay from both WC and SSDI. In what world does a bank need my medical info, they want the Dr sheet to the disability people that show my meds, implants and other. They got a letter stating my pay and that it is ongoing. Try and stay local, not to mention all the sales calls after I had started this process with them. I will put in updates as I go. They are very pleasant I will say that for them.
Loan officer remained on top of the deal until close. Processors and loan officer were all active helpers throughout from origination through until close. They helped solve problems rather than act as auditors in pursuit of problems. Helpful employees made the process all good from end to end from my perspective.
After some sales put hard pressure sales tactics to refinance my house, I agreed, send in all the required documents. He told me that I was good to go with a closing date. After I paid for appraisal which was worth more than double of my loan, the Salesperson disappeared, wouldn't return my calls nor emails. They scammed me out of an appraisal cost.
I applied with Network Capital before deciding to use a different lender. Their rates were better than the big banks, but not as good as my local credit union. However, I am writing the review due to some business practices that I found questionable. I found Network Capital's pricing severely lacking in transparency. The totals they gave me did not include all relevant costs; I had to specifically ask about these additional costs to get a real total. They took a very aggressive, high-pressure approach and would not lock me into a rate until I had provided all supporting documentation. They did not have a secure portal for these documents, but rather relied on insecure email. All of these characteristics were fundamentally different than the other lenders I talked to.
My bigger issue came when I told Network Capital that I was going with another lender. They called me multiple times per day for the next few weeks, and continued to call a few times per week for the next three months. It was this continued annoyance that persuaded me to post reviews. When I posted my first review of Network Capital, they contacted me repeatedly asking me to remove my review or increase my rating. While it's nice that they respond to feedback, I am concerned that this level of pressure may be why their ratings are so high.
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It was a pleasure working with Clarissa ** at Network Capital. She is knowledgeable and helpful throughout the process. She answered all my questions and provided me with great information. I would highly recommend Network Capital for anyone who is looking to buy or refinance. Thank you Clarissa for all your hard work and dedication. I will definitely work with you in the future.
This was a great experience. Loan was funded in about 3 1/2 weeks. Angelo ** was wonderful to work with. He answered all my questions, and always returned my phone calls and emails promptly! He made me feel important and valued!! Will for sure use Network Capital Funding again, and would ask for Angelo!!
My parents are very satisfied with Ali and his team at Network Capital. The process for refinancing our home was quick and efficient. They do a great job communicating and made this a pleasant experience from beginning to end.
Inquired about a possible refi and lowering my monthly payment on the internet. I received numerous calls... but Devang ** with Net Capital was the ONLY ONE who explained a new program through the VA (IRRL) that could even lower my already low interest rate (3.5%) even lower AND without any fees out of my pocket. I recommend Net Capital.
As I was working on my computer several weeks ago, a pop-up appeared suggesting I go for a lower mortgage rate. I had not previously thought of this but indicated that I might be interested, so I clicked the YES box. Before I had left the website my phone rang and Sean was calling. He introduced himself and indicated that he would help me look at my options. He was not only warm and friendly but actually connected with my unique situation and my need to pay off the mortgage as soon as possible.
I had a lot of questions and concerns and he was knowledgeable and addressed them all clearly, in language an old lady can understand, and professionally. He phoned and/or e-mailed me back several times to check on how our refunding was progressing. He explained the process well and worked with me to get in all the needed forms turned in. He always explained the next step so I would know what to expect. This man is a real asset to your company and is a great out-front kind of guy. With his personality, he goes beyond his job and gets to know his customers on a personal level, which isn't easy over the phone. Job well done!
Heard about Network Capital through the mortgage radio show. I contacted them about a refinance, and was assigned loan officer, Sami **. Sami was a pleasure to work with. He provided quick, and thorough service. He was knowledgeable, patient - willing to go over several refi options with me. Sami was readily available, and he seems to really enjoy his job! I also dealt with loan processor, Laressa **, who was also a solid employee. Only a few hiccups with always seeming to be just "one more thing" needed to get loan done, and some last minute confusion about whether closing would be at my home, or at a real estate office. Overall, I was very pleased with Network Capital, the ability to sign several documents online, their ease/availability of speaking with loan officer/processor. They got my loan closed in just over 1 week!!!
Been waiting for more than a week for somebody to review my submitted paperwork for home loan request. And what is the worst - everybody there keeps lying, that the offer will be sent in an hour, but like I've said - it's been a week!!! Luis ** kept telling me that someone will contact me in few minutes (waited several days). Then he told me that Hansel ** is working on my paperwork and will contact me in a few minutes. Waited several days and decided to contact him directly but he had never heard about me and didn't even have my paperwork. Although, he promised me to take care of my inquiry the same day. Again - been few days and nothing. I have contacted manager John **, who promised me to send the offer in an hour and a half on Wednesday. Today is the end of Thursday already - and nothing!!!
I am the first time home buyer and this process is already nerve-wracking, and I wish I didn't have to deal with such ignorant and unprofessional people. In addition - every day I get the calls from this company to check my information and to assign me to a loan officer - so basically there is no coordination and it is a huge mess!!! The saddest part is that I am perfect candidate for loan (no debts, good job, excellent credit score, etc) and these people just lowered my credit score checking it with no intention to offer me anything??? The worst company I could imagine to have to deal with!!!
I'm posting this review for my grandma, Charlotte **. She's a bit behind with tech, but she had such an easy experience refinancing her home. She wanted to let everyone know. Her loan officer Charles ** was patient and kind and saved her a ton of money when she needed it the most! Thanks Network Capital and Charles ** for taking such good care of her. You've made a huge difference.
Network Capital has resolved this matter to my satisfaction. The basis of my complaint was not the fault of Network Capital.
I was told repeatedly that I had been approved for a mortgage refi. I asked over and over again, especially before I paid almost $500 for an appraisal if I had been approved by underwriting. I was assured by two people at Network Capital that I had been approved. On their say-so, I laid out the money for an appraisal. My house appraised for much, much more than I owed. Good news. Right? Wrong. Soon thereafter I was told that underwriting had not approved my loan. I wasted $500. I have no proof but I have been told by a number of people that mortgage companies get a kickback on the appraisal fee and that is why they encourage you to get the appraisal. I would proceed with caution when dealing with Network Capital.
I would like to thank Juan ** for all of his help with my refinancing. He is a very personable guy and he made a scary process easy and enjoyable. I would recommend Juan and Network Capital to anyone I know that is interested in refinancing their home.
I heard the Mortgage Radio show a few times over several months. After the "last straw" with my current mortgage company at the time, I decided to call Network Capital. Clarissa ** answered the phone! Clarissa is amazing! There were many hurdles to be cleared to get my mortgage refinanced but it was done in 2.5 weeks. Thank you Clarissa for calming me down when I would be so frustrated w/ roadblocks that kept popping up, thank you Network Capital, & Seterus Inc. you can suck it!
My experience during the refinance process was the single most pleasant experience in dealing with a home mortgages. James ** at Network Capital and his team were very pleasant and timely in the refinance of my home. Definitely gonna recommend to friends and family.
In May of 2016, I was contacted by Network Capital telling me that I was qualified for a refinance to a lower interest rate. After I applied for a refinance, I was approved for the loan. It is now August 2016 and this loan has not been closed. Every month I have been postponed, neglected, forgotten, put off and humiliated by the processing and handling of this approved loan. After May, I was made aware that my loan processor was fired and my loan was suspended. June 2016, my loan was sent to Shelby, processing supervisor. Once again, I submit necessary paperwork that was misplaced. Shelby handed me off to another processor. I was to close at end of June. Find 3 days before closing the processor forgot to send my paperwork to closing. Therefore I would not be able to close before July.
July 2016 I am subjected to phone calls from this company asking why my loan has not closed. I relay the situation that company processors keep dropping the ball. I am then passed to Chris **. Who seems concerned about this fiasco. He introduces me to a new set of loan processors. FAILURE for end of July and again in August. I have paid late fees and phone payment costs each month to my present Mortgage company since this process was initiated. I was promised a $200 savings per month with approved interest rate of 3.65%. I did not want cash out. I provided all necessary documentation. I have paid out more money than my quoted savings. What is going on with this company who claims to provide 10-day closing results? It's been 5 months and still no dice, no closing, only excuses. HORRIBLE HORRIBLE HORRIBLE.
Several people have contacted us from Network Capital to resolve the issue about the mix up in regard to the community we live in and that you do not have to own a Class A motorhome to live in our community. They offered to close our loan at the rate we had locked in when we applied with them. We declined to accept their offer because we had already applied with another lender and locked in at a lower rate.
We were contacted by Network Capital Funding Corporation (Aerial Vega). We submitted all the required documentation they asked for, were informed we had an excellent credit rating of 795, and approved for a VA loan to refinance our home. The loan was turned over to another person (Marissa **). We received disclosures with different numbers. I believe Marissa was new and when we asked her a question she had to go ask someone else. Everything was moving along fine and our appraisal was done by the VA which we paid for and it was a good appraisal. We were trying to refinance and get some cash out to do some remodeling inside our home. We were all set to borrow 80% of the value of our home. They were going to pay off the 1st mtg and home equity loan and we would get some cash out.
It came up that Network Capital also required a termite inspection so they scheduled one and sent someone out to our home. When the person arrived they didn't understand what they were there for and it turns out he was not qualified to do a termite inspection for a loan closing. This was the day before the loan was set to close. We have a termite protection policy that we renew every year so we contacted them and they came out and did a termite inspection. We paid for it and they did the report and sent it to Network Capital early the morning of the day we were to close.
The notary contacted us and there was some miscommunication about the date and time of the closing. It had changed a few times and no one knew the exact time. To top it all off the day of the scheduled closing which was to take place at 4PM we received a phone call at 1PM that they could not close our loan due to some crazy deed restrictions that said "you had to have an RV to live in our community". I went on line and got a copy of our covenants that stated "you did not have to have an RV to live in our community" (although I don't know what that had to do with it since we do own an RV).
Anyway there were just too many different things going on that just didn't seem right and we really couldn't get a straight answer. We do not understand why they waited until the 11th hour and why we were treated this way. It was very very stressful. Now we have to start all over. My wife and I would say we were very dissatisfied and would tell anyone looking for a mortgage to stay clear of Network Capital Funding Corporation. There seems to be a lot of miscommunication and things don't match up.
I was not even thinking about refinancing when a friend of mine told me he had and received an amazing deal. My friend refinanced through Lucas ** of Network Capital. I decided to call Lucas myself and a great deal was also proposed. Lucas was phenomenal throughout the entire experience and the refi was done in about a week. Great experience all around.
The process was easy and painless, and Network Capital (Juan **, loan officer) was great. I actually thought the rates were too good to be true and I almost blew the whole thing off. But Juan hung in there, was highly responsive, answered all my questions, and chose exactly the right time to act when the rates dropped. I NEVER thought he could get me a better loan than I had. He took care of all the details and, to close on time, he even got a notary out to the horse ranch where I was vacationing! Not only was Juan the best, but Network Capital really delivers. They won me over (and my skepticism!) but it was Juan's hard work that enabled me to get an unbelievable rate. They're a top notch organization and I'd use them again in a heartbeat. Great experience all around. Thanks, Juan! Hope they're paying you well. :-)
We purchased a new home in July of 2015. We had a great VA Loan rate and was very satisfied with everything. We got a phone call one day several months into the the current year, (2016), it was a gentleman (Ariel **) from a company named Network Capital Funding Corporation. They were telling us that we could refinance of new home and we told them that we had just bought our home, but Ariel ** was very persistent on assuring us that we could get a better deal than we had and it wouldn't cost us anything out of our pocket. After a couple weeks of administrative details and some serious negotiations from my Wife (Paula) who is a retired Accountant, we ended up with a unbelievable interest rate and APR, and the service that Network Capital gave us was second to none. We will surely recommend them to anyone looking for a mortgage and our a refinance opportunity.
I received a phone call from Network Capital and ready to hang up on telemarketer. Wait, then I was transferred to someone named Lina **. Lina said hello with a sweet voice. She asked me if I want to save some money. If no closing cost I said "yes". I have to pay appraisal fee. Fine. She e-mailed me the necessary documents and find my score. She called me that I can only be approved at 4% with my ratings. My loan was approved and I am saving some money. I will do it again with Lina in coming months when my score is better. I have fun working with Lina because she is frank, honest, and know the financing process.
Me and my wife recently went through the refinance process with Network Capital. This experience was as easy and pleasurable as it gets! Alika ** was helpful, courteous, and knowledgeable. I definitely recommend calling Network Capital for any of your mortgage needs. Please ask for Alika ** and you won't be disappointed in the service you will receive! A+++
07-05: I got a call back from Network Capital and they agreed that it was indeed the miscommunication by an individual and it does not represent the company as a whole and also mentioned that they are willing to work with me again and will ensure that my experience is better. They have given me the rates we originally agreed to, by waiving off the fees. I am still in the process of closing out the loan.
I have increased my rating from my experience so far (not 5 yet) as the loan is still not closed and will update this section again once the loan is closed.
I was recently contacted by Network Capital for refinance. Lady I was speaking to provided me the rates and asked me to sign the documents. I signed the documents and asked for amortization schedule. When I read the amortization schedule, it did not match up with what I was told on phone so I sent a mail asking for clarity and never got response. Next time I spoke to them, same lady did not even acknowledged the numbers we discussed and said the payment will increase by 8 dollars instead of 4 dollars every month. I was till fine and thought of giving them a chance. Due to my earlier experience, I again asked for amortization schedule and the document had increase of ~19 dollars instead of 8.
Somehow I felt this company has been lying since beginning and was always rushing to get the document signed and proceed. Even the manager who called later just mentioned it might just be a communication gap. I fail to understand how can same issue happen twice. They even had wrong dates and name documented (even after providing all the required documents) and they did credit check twice as first check was done with wrong name. So many issues in one simple transaction. I would not recommend this company to anyone.
From the get go, and the first conversation on the phone you are given specific information of how the loan process works. All of your questions are answered in easy terminology for those who are not well versed in the loan process. I had the pleasure and good fortune to work with Anthony ** who was beyond professional. He answered numerous questions and explained everything in detail. It was clear that Anthony was genuinely interested in helping me get the best interest rate and keeping the loan costs as low as possible. All in all it was a wonderful experience and I would recommend this company and Anthony for any refinance or new loan needs.
Network Capital resolved this matter to my satisfaction.
Don't believe all the 5 star reviews; they are all probably from the employees at Network Capital. Currently I am dealing with them and I had my appraisal done and was told that my loan was approved and all they were waiting for was the HUD/closing disclosure from my current sale to finish up. 3 days before my closing the Title Company notifies me that they are unable to contact Network Capital. I try contacting them and find out 3 hours later that the employee working on my loan is on extended leave.
When I call her number it says it is not a valid extension. Someone else is put in charge of handling my account and I find out that the appraisal that was done over a month and a half ago is unacceptable and that they had performed a desk review of the appraisal and claimed it was 50K less than the original appraisal. I was told an expedited appraisal would be performed. It took them 4 days to schedule it and the closing on my house came and went.
I am now stuck in a hotel room with my belongings in storage waiting for these people to get an appraisal done so I can buy the house. I call them daily and every time I bring up expenses that I have incurred they dance around the subject stating "The owner must approve that." Stay far away from this company. They dropped the ball and admitted it but they have yet to make it right.
I have been dealing with Capital Funding for many years now. This is my third home purchase loan and I couldn't be more happy and satisfied with the level of service. I myself work for a major bank and still get much better rates, closing times, and customer service with Network Capital. This third home purchase of mine was for a Cabin in Big Bear and was able to close in 2 weeks. I know it may seem nearly impossible but it is true, even my escrow company along with the seller were caught by surprise. I would recommend this company to anyone that is looking for a loan. They are professional, diligent, and extremely competitive.
We heard about Network Capital on the Mortgage Radio Show and we gave them a call as we were in the market to refinance our present loan. We were so fortunate to have John ** with Network Capital to assist us through the process. There are so many words that will fit for John. Professional, courteous, knowledgeable, honest and dedicated are just a few. John made the refinancing process as smooth and easy as possible. John explained the process and the timeline to complete the loan process and he was there to answer any questions whenever we needed. I would highly recommend the Network Capital! Thanks!
So when I called up Network Capital I spoke with John **. He asked for information. I gave them the information that he needed and in a matter of two weeks my loan was close. I've owned 12 homes in my lifetime and this definitely was the easiest and most efficient loan I've ever received.
Michele LernerMortgage & Real Estate Contributing Editor
Michele Lerner, author of “HOMEBUYING: Tough Times, First Time, Any Time”, has been writing about personal finance and real estate for more than two decades. Michele writes for regional, national and international publications in print and online for a variety of audiences including consumers, real estate investors, business owners and real estate professionals.
Network Capital Funding offers mortgage programs for first-time homeowners, experienced buyers and wealthy customers alike. It operates in many U.S. states, including California, Texas, Virginia, Illinois and Florida.
- No lender fees: Consumers don't have to pay traditional fees for application, origination, processing or underwriting.
- Immediate application: Consumers follow a link from the home page to apply right away.
- Customer support: Homebuyers can chat live online with a representative, call toll-free numbers and email customer support.
- Technology-driven process: Network Capital Funding uses its technology partners such as Microsoft to streamline the loan process. Consumers can sign origination documents electronically from anywhere in the country.
- Short closing windows: Depending on the loan program, buyers can close in as little as 10 business days.
- Best for residents of a state Network Capital serves, people who want to avoid fees, consumers who know their mortgage goals and people with good credit scores.
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Network Capital Funding Corporation Company Profile
- Company Name:
- Network Capital Funding Corporation
- Company Type:
- Year Founded:
- 5 Park Plaza, #800
- Postal Code:
- United States