Network Capital Review

ByTop10.com StaffNov. 19, 2020

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In a Nutshell

Network Capital Funding Corporation is a mortgage lender with a mission to provide quick loan approval at minimum cost to the borrower. Through partnerships with tech giants Oracle, Microsoft, Cisco, and Redhat, it automates most of the loan assessment process—making it capable of closing your mortgage in as little as 15 days. Most of all, Network Capital doesn’t charge any lender fees.

pros

  • Close in as quickly as 15 days
  • Zero lender fees
  • Low down payment on conventional loans

cons

  • No home equity loans
  • Currently available in only 29 states (plus DC)

Network Capital Funding Corporation at a Glance 

Loan typesPurchase, Refinance
Featured loansConventional, VA, FHA
Repayment terms15-30 years
Suitable forMillennials looking to get maximum assistance

Overview

Network Capital Funding is one of a new breed of fintech mortgage lenders making life easier for borrowers. It uses technology to automate much of the assessment process, enabling it to eliminate lender fees and get your mortgage closed quickly. It also offers added value in the form of quality loan advice from professional agents based in your area. When you use Network Capital, you don’t just get access to a wide range of purchase and refinance mortgage options. You also get access to the tools and assistance to ensure you succeed, including useful mortgage calculators and hands-on assistance with uploading all the right documentation. 

Suitable For?

Network Capital Funding Corporation accepts applicants of all types, but by its own admission is focused most heavily on serving the needs of millennials—people born between 1980 and 1996. How does it do this? Through a streamlined mortgage assessment process that involves maximum assistance, minimum fees, and the chance to get approved in as little as 15 days.

Types of Loans/Products

We’ve already talked about Network Capital’s hi-tech mortgage assessment process, so now it’s time to discuss some of the other great features. Network Capital offers a solid range of mortgage products—with the option of purchasing or refinancing with a conventional, FHA, VA, or HARP 2.0 loan. In addition to originating mortgages, it also offers a lot of hands-on assistance with getting you informed and approved.

Here are the highlights:

  • Apply online, backed by phone support from an agent in your local area.
  • Close in as quick as 15 days
  • Free, no-obligation consultation with an agent to help guide you in the right direction. Includes a quote that clearly and transparently outlines the estimated numbers for your mortgage.
  • Free calculators to help you work out your monthly payment and debt-to-income ratio and understand how much you can afford to pay on your house.
  • The Mortgage Radio Show, a regular mortgage podcast that informs prospective borrowers about the mortgage process.

The Application Process

According to Network Capital, the application process involves 5 steps.

  1. Conversation. Initial phone call in which an agent asks you about your goals and expectations. The call takes around 8 minutes. Within around 2 hours, your mortgage agent will put together a no-commitment proposal outlining what Network Capital can offer you.
  2. Documents. Online application process that involves uploading your documents by fax, email, or Dropbox. Your agent will help you where necessary. 
  3. Approval. Once all the correct documentation has been uploaded, Network Capital’s underwriting team will get to work to approve you within 48 hours.
  4. Finalization. The final closing agreement will be sent to you for review and a time will be agreed for an agent to come to you and sign all the documents.
  5. Closing. According to Network Capital, it can close your loan in as little as 15 days—much quicker than the industry average.

Key Figures: APRs, Loan Amounts & Repayment Terms

One of the most impressive things about Network Capital is that it’s transparent when it comes to key figures like rates and fees. On the Network Capital website, you can find a page with the latest rates. We’re pleased to say the APRs are very competitive.

Here are the key numbers (correct at time of writing):

  • Repayment terms: 15-30 years, plus the option of taking a 5-year ARM.
  • Fees: No lender fees, e.g. no origination, application, underwriting, or processing fees. However, all the other usual closing fees do apply, e.g. appraisal and title fees.

Help & Support

Network Capital operates online and over the phone. The process begins with a roughly 8-minute long phone call with an agent. This might sound like a hassle, but it’s the secret sauce to helping get you the most suitable deal. To go straight to an agent, call 800-300-0018 during extended business hours or use the call button on the Network Capital home page (you’ll see it pop up) to schedule a call.

Summary

If speed and convenience are what you value most in a mortgage lender, then it’s worth checking out Network Capital. That’s because Network Capital is able to close your mortgage in as little as 15 days—much quicker than traditional bank lenders. Network Capital also doesn’t charge any lender fees and it is very competitive when it comes to rates—making it a solid option for your next mortgage.

FAQ

Where does Network Capital operate?

Network Capital is licensed to do business in 29 states plus DC. The states are: AL, AZ, CA, CO, DE, FL, IL, IN, IA, KS, KY, LA, MD, MI, MN, NJ, NM, NY, NC, OH, OK, OR, PA, SC, TN, TX, VA, WA, and WI.

How long has Network Capital existed? 

Surprisingly for a hi-tech lender, Network Capital has been around since 2002. It has moved with the times and today presents a streamlined application process aimed mainly at Millennials.

What is The Mortgage Radio Show? 

MortgageRadio is hosted by mortgage professionals Sean Meador and Teresa Strasser and sponsored by Network Capital. It plays live on various radio stations across the country on Saturday afternoons. To see broadcast times, check out TheMortgageRadio.com.

What do customers say about Network Capital? 

Customers have given this lender a 4.7-star rating on Trustpilot, with the majority of people praising the speed and professionalism of the service.

Physical Address

Network Capital Funding Corporation

7700 Irvine Center Drive, #300

Irvine, CA 92618

Network Capital Network Capital Visit Network Capital

Network Capital customer testimonials

ExcellentReviews 485
TrustPilot is the world’s most powerful review platform, free and open to all.
Excellent
96%
Great
1%
Average
1%
Poor
0%
Bad
2%
  • author
    Morad Omran
    18 hours ago
    Very well good

    Very well good

    ...

  • author
    Rose
    a day ago
    I'm still in shock how this company…

    I'm still in shock how this company could rip me off. They were convincing and supportive initially only to get my money and switch up on me. Honestly, I’m just glad I could work with mismary 247 at Gee M,.to get the stolen funds back.

    ...

  • author
    M. Denzer
    a day ago
    Computer and phone system went down!!!

    I want you to know that the reason you are getting "5" stars is due to Janel James and Patrick Brymer. Your phone and computer system went down for several days which made me crazy because I could not reach anyone. I needed to let you know that the appraiser had only included 1 acre and we had 2.6!!!! This made a great difference in the appraisal amount. Patrick and Janel were so embarrassed that I had so much stress over this issue and immediately had it corrected. You as a corporation need to do better considering the personal data you have on your systems!!! Janel was such a joy to work with and always callling me to update. Patrick had my best interest during the process and gave me great advice. You have two very valuable employees and I hope you reward them well.

    ...

  • author
    Glen Nelson
    2 days ago
    Andrew Crogan and Melissa Bev Equal Top Notch

    Andrew Crogan and Melissa Bev worked on my loan and although there were a few kinks, these two people performed great. I received updates on the loan status and was assisted with things I was unsure about. They were both just a phone call, text or email away. My loan was just as described in the beginning of the refi and I have no complaints at all. I would use Network Capital again and will look them up for our cabin we are looking to purchase. Thanks!

    ...

  • author
    Mario
    3 days ago
    What a great experience working with…

    What a great experience working with Amberlynn Boyle. I know that she worked hard to get me the amazing deal I got with my refi. She really stepped up to bat, when I needed her to.

    ...

Network Capital