Network Capital Funding Corporation
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Network Capital Funding Corporation

 4.9/5 (212 ratings)
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Network Capital Funding Corporation
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Written by Emily Moore
Edited by Sally Jones

About Network Capital Funding Corporation

Network Capital Funding Corporation (NMLS #11712) is an online direct mortgage lender available in 43 states. The company has borrower perks that stand out, like no lender fees and closing in as little as 15 business days. The company underwrites your purchase loan upfront — usually within 24 hours — so the seller can be confident the loan will close. Network Capital has been in business since 2002.

Overall Satisfaction Rating

  • 5 stars
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Pros

  • Posts daily rates on its website
  • Closings in as little as 15 days
  • No lender fees for qualifying borrowers

Cons

  • Not available in CT, GA, MA, MO, NH, NV and UT
  • No mobile app

Bottom Line

Network Capital is a direct mortgage lender offering home purchase and refinancing loans. Its products include conventional, FHA and VA loans. Qualifying borrowers pay $0 in lender fees. You can check starting rates online and usually get preapproved for a loan within 24 hours.

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Rated with 5 stars
Verified

The experience overall was very good with Network Capital. They were very attentive, had great customer service, and when you call, somebody does something. The application proces...

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Rated with 5 stars
Verified

Network Capital's reps were on everything and were always accessible. When I had a question, I'd either call or email them, and I got a response back right away. We ended up midwa...

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What is Network Capital?

Network Capital is a funding corporation that provides mortgage and refinancing products for homebuyers and homeowners. Its team specializes in fast closings (as little as 15 days for some products). With low rates and zero application, origination, rate lock, processing or underwriting fees for qualified borrowers, Network Capital offers mortgage products that are more affordable than some of its competitors provide.

Network Capital services, loans and products

Network Capital customers work directly with licensed home loan experts to gather, organize and submit all documents needed for approval. These experts also help you decide which program makes sense for your needs.

Its loans include:

  • Conventional
  • Refinance
  • FHA
  • VA
  • USDA

Most of its loan products require a 3% to 5% down payment and are functional even if a lendee declares bankruptcy.

Network Capital mortgage rates

Network Capital promises “competitively low rates,” meaning its costs can change according to current federal rates. At the time of this publication, its costs fall between 2.25% and 2.875%, which are fairly affordable rates.

It’s important to note that your credit history and down payment may not qualify for these rates — but with no lender, application or origination fees, Network Capital could be an affordable option upfront. The company also offers mortgage discount points.

Network Capital FAQ

Where is Network Capital located?

Network Capital is in Irvine, California, but most of its products are available online.

Does Network Capital do a credit check?

Yes. FHA and VA loans require a credit score of at least 550; conventional loans require a score no lower than 620.

Can you apply for Network Capital’s loans online?

Yes, the entire process can be completed online.

Does Network Capital charge loan fees?

There are no application, origination, rate lock, processing or underwriting fees for qualified buyers.

Is Network Capital transparent about its rates?

Not really. Its customers have to jump through some hoops to see rates, and the only way to get a customized rate is to call.

Is Network Capital legit?

Network Capital is a good option if you want to choose from a variety of online loan products. Because it doesn’t show personalized rates and fees online, it might be difficult to grasp the total cost of each loan; however, its licensed loan officers can walk you through options over the phone and provide free, customized no-obligation rates.

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How do I know I can trust these reviews about Network Capital Funding Corporation?
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Page 1 Reviews 0 - 5
Rated with 5 stars
Verified Reviewer Verified Buyer
Original review: Aug. 20, 2022

The guy, Sebastian, was good. He convinced me to try to go with Network Capital Funding. When he talked to me about it, he explained to me how they were gonna do this and that. I took his advice and gave him the information that he needed to get the loan processed. He did most of the preliminary paperwork. Everything went like clockwork and on time. I had tried to get a loan through a different agency. I had just started a job so they told me to come back in another six months and do it again. It was like jumping through hoops at a dog training show. Every two or three days, they would call me, and they would want more crap that I'd have to do. I'm a long-haul truck driver and it got to be tiresome. Then they denied me anyway. The first time I tried to get the mortgage, the rate was 2.25%. After I got with Network Capital, it went all the way up to 5.1. I lost almost three and a half points, messing around with the other company.

Network Capital Funding said there were no fees but they charged about $6,000 for the closing costs which was a little bit much. That's not counting the extra money for the title searches and all the other kind of legal stuff that's normally on there. I recommended them to another friend of mine that was trying to get a mortgage. He went ahead and used them and they did the same thing on him. They charged him an extra $3,000 on closing costs. Also, as soon as I got my mortgage, they transferred it to PennyMac. I would probably recommend Network Capital Funding again to somebody else, but I would give them the information that I know now that they're probably gonna sell your mortgage before they ever get a payment and that to watch out for the fees that they're gonna charge.

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    Rated with 4 stars
    Verified Reviewer Verified Buyer
    Original review: Aug. 1, 2022

    The person that was handling my refi, Teddy, was amazing. We had some bumps in the road, but he was on top of everything. Initially, Network Capital Funding contacted me, and we talked for an hour. When things made sense, then we started the process. There was a young girl who does all the financing and goes through the loan. Teddy set everything up and got all my stuff prequalified, then we went through another lady. This was Alexa, and Teddy and I were upset about her, ‘cause she delayed a lot of stuff at the end.

    I was going through a credit repair company, and I told them to stop, because in an FHA loan, I can't have disputes. Every week, the dispute was popping up, which was hindering the loan, and every time we pulled credit, it’d go down. After a certain amount of time, Alexa stopped caring. When I tried to reach out to let her know where I was at as far as getting everything resolved, no phone calls. She wouldn't return texts. Until finally, when I got to the point where my credit was back where I need it to be, I called Teddy. “Hey, I think we're in a good spot.” He said, “Let me get on it. Have you heard from her?” I said, “Teddy, she stopped answering for about a month when I was trying to get in touch with her.” Teddy took it to her supervisor and his supervisor.

    We were having issues getting funded, ‘cause I go through a credit union, and most credit unions have to go to a federal credit union to do their wire transfer. Alexa delayed my mortgage, and I don't ever want her on any of my stuff that I do with Network Capital again. I ended up having to dish out more money to pay everything off than if she would have got it done before the deadline, which she had all the chances. We had deadlines to pay off cars, mortgage, the other mortgage, and it went over that deadline by four days. So, I had to get renewed payoffs, and I got them within one day. Alexa didn't start doing the last couple payoffs till that Monday, and I got everything done on a Friday. I did her job pretty much.

    On the other hand, Teddy cared. You can tell who's who and who's fake, and Teddy was a genuine person. When we thought things weren't gonna go through, he said, “Dude, we're gonna get it done. Might take a little longer, but I will get you where you need to go.” This gentleman didn't come out with a client. He came out with a friend. He is gonna be doing my next refi next year to get me out of an FHA loan. I won’t use nobody else. Whoever hired Teddy made a good call. If we had more people like Teddy, it’d make everybody's life easier.

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    Rated with 5 stars
    Verified Reviewer Verified Buyer
    Original review: May 31, 2022

    Network Capital Funding offered me a rate of 4.1, but once the word gets out that you're looking to refinance, everybody and their brother contacts you. One of them said, “3.87, no points,” and I was actually gonna go to them. I sent it back to the Network Capital Funding rep and said, “Look, can you guys meet on 3.87?” I'm not familiar with mortgages, but I figured the rate is the rate across the board. The rep said, “I'm not sure. But why don't you send me the link? And I'll tell you if it's a legitimate offer. Because a lot of times they'll lowball you to get you to do this, this, and this.” To his credit, he looked at it and said, “That's a great offer. I would go with that if I were you. But just give me a second. Let me talk to my manager and see what we can do.”

    Network Capital Funding met the offer, so I did the exact same thing I was gonna do, but I did it with them. I went with the lower interest rate, 3.87 and for 20 years. They sneak their fees in there through points though, and I get that. The rep was a good guy and it seemed like he wasn't just being a salesperson. We even exchanged personal numbers. He made the process very comfortable.

    My original loan was sold to Network Capital Funding, so a lot of the stuff, they already knew about. I'm an elevator mechanic. I work for the union, and each company has to pay the exact same, but because I changed companies, I had to show a couple of extra W-2s. The process only took a couple of days and the only hiccup I had was with the W-2s. I don't get a paper statement and it went back and forth with the underwriter four times about sending official documents. I had someone else on the loan as well that I wanted off of the loan. I was able to kill two birds with one stone, and they made that seamless. I didn't have any contact with this other person, which was great. However, my loan’s already been sold by them. Didn't even have my first payment.

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    Rated with 5 stars
    Verified Reviewer Verified Buyer
    Original review: May 30, 2022

    Network Capital called me and it was a nice guy on the phone. They wanted to deal with me. I had had other finance companies but I got very upset because they were giving me a lot of lip. But Network Capital was very patient. They understood. I was very impressed by one guy, Carlo. He put everything together. They put me with somebody but we didn't seem to be able to communicate right. She had no communication skills and was nasty about everything. I felt very uncomfortable with her.

    Carlo called back, and we talked. He was very understanding and approachable. He knows his stuff. I appreciate all he did. Everything went by super fast and everything got taken care of. I was very impressed by the way things were handled. They checked my credits and everything about me. During the whole thing, Carlo held it through. I liked the way that I could talk to him and he didn't make me feel like an idiot. He talked to me like a human being. If it hadn't been for him, I would have never gotten anything done. After the deal was done, he gave me a personal call and said, "I wanna thank you, not for just doing the deal. I have enjoyed our conversations." He didn't have to call me. Nobody else has and said, "Hey, thanks for doing this." But Carlo did. He went way beyond what I thought anybody should do. In the end, Daniel came through for me because Carlo was out of town for business. Daniel helped me out. The first guy, Surgeon, was a good guy too. He was like Carlo.

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    Rated with 5 stars
    Verified Reviewer Verified Buyer
    Original review: Feb. 20, 2022

    Network Capital's rates were lower than what I had. I got a refinance from them and at first, they were quick in giving me a call back. I left my information and was told that someone would get back to me. Then, somebody spoke to me and I went through some numbers with them. But after giving him all the information, he said that it would be difficult for me to get a mortgage based on all the information I've given him. Somebody else gave me a call and said that they could work on this mortgage. He went through the numbers and said he felt very good about it. One thing led to the next and I got great results at the end.

    I was working with someone and things were going pretty well. But something happened in the office with COVID and I just didn't hear from him. I waited, emailed and called, but I didn't hear from him. So I called the number on there that they told me to call. Luckily, we had his manager's number on there and he said that he'd take care of it right away. And he did. He got me in touch with another person. So they were quick on it and within a couple of days, everything was back on and going through.

    I have done several mortgages in my lifetime and this is one of the easiest processes. Some of those companies would drag you out, ask you for the same documentation, repeat it again a week or two later, then ask you to give more documentation, and then tell you that they got to check this and that. With Network Capital, there might have been little bumps here and there and the process was not perfect, but it was very smooth compared to a lot of the other companies out there. I've always been extremely scared and nervous when having to go through this kind of a process. It's very strenuous and the amount of paperwork that you have to put together, back and forth, bogs you down. There's never enough paperwork and always they want something else. But working with Network, I'm not as frightened if I have to do it in the future and I wouldn't hesitate to go back to them again.

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    Rated with 4 stars
    Verified Reviewer Verified Buyer
    Original review: Sept. 23, 2022

    I needed some cash out for remodeling purposes. Initially, the rep from Capital Network called. It was easy to get a hold of them. But as the process went along, it got harder and harder to get ahold of them as the loan was getting funded. That was the only issue I really had. Also, I was constantly getting calls from them and it was always a different phone number. I was trying to figure out who I had to call. Some numbers were personal and some were company numbers. Overall, things were fine. Network Capital was quick and the process was simple. I rates I got were comparable to the average.

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    Rated with 5 stars
    Verified Reviewer Verified Buyer
    Original review: Sept. 16, 2022

    We recently closed on a refinance loan on our home. We dealt primarily with Yierfan ** throughout the process. We found him to be totally professional, as well as knowledge of the product he was selling. He also expedited the loan process which was, to his credit, completed much sooner than we expected based on other refinances we have participated in. Thanks Yierfan, great job! John & Kathy **

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    Rated with 5 stars
    Verified Reviewer Verified Buyer
    Original review: Sept. 10, 2022

    I met Chris a year ago when I was trying to refinance my home. I’ve had a few challenges with my credit and my previous lender which made getting a loan a little difficult. Chris in the beginning was very kind, professional and I felt right away like I knew him. He encouraged me and gave me ideas on how I can improve my credit score. Throughout the last year, he would check on me to see how I was doing. This gave me confidence to keep going. This was the first time I ever refinanced my house and I knew Chris was the guy who would make it happen.

    Well after a year it happened. I was able to refinance and get some money out. It was an amazing feeling to get it done. I couldn’t have done it without him. I am so appreciative and grateful for him. I hope to continue to work with him later down the road. I was also introduced to Sang ** and he got me over the finish line. Sang was also very professional. I was very impressed with the team that handled my account. If I have any other home needs I plan to contact Network Capital. Thank you.

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    Rated with 5 stars
    Verified Reviewer Verified Buyer
    Original review: Sept. 10, 2022

    It’s great to work with Network Capital. Everything is seamless from the time that it starts and the process goes quickly all the way up to closing. It’s usually a team that you work with. They’ll start out with the original representative then it goes off to the financing guy. It’s a team effort even all the way to the notary that comes to the house. There is a benefit to having worked with Network Capital before and knowing that if I qualified for the type of program that I was looking for, whoever I was working with would confirm that and they would take care of me. I’m very pleased.

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    Rated with 5 stars
    Verified Reviewer Verified Buyer
    Original review: Sept. 9, 2022

    I got a quote from Network Capital and they were helpful and answered all the questions I needed. Their rep was really friendly and very professional. I liked that. I only wish they had lower interest rates.

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    Network Capital Funding Corporation Company Information

    Company Name:
    Network Capital Funding Corporation
    Company Type:
    Private
    Year Founded:
    2002
    Address:
    7700 Irvine Center Drive, 3rd Floor
    City:
    Irvine
    State/Province:
    CA
    Postal Code:
    92618
    Country:
    United States
    Fax:
    8667596008
    Website:
    www.NetworkCapital.net

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