Business Insider's personal finance team compared Network Capital Funding to the best mortgage lenders and found it to be a standard lender.
Network Capital Funding Mortgages offers a decent range of loan options and ranks high in customer satisfaction. For borrowers who have unusual income situations that might prevent them from qualifying for traditional mortgage options, or those who don't have a credit history, this lender is might be a good choice.
620
3%
Conforming, FHA, VA, non-QM, home equity loan, HELOC
- Accepts non-traditional credit
- Ranks high in customer satisfaction
- Offers mortgages for self-employed borrowers and real estate investors
- Hard to find loan information on its website
- Can’t view customized rates online
- Doesn’t charge lender fees
- Minimum credit score and down payment displayed are for conforming mortgages. The 3% down option is only available for first-time homebuyers; other buyers must put down at least 5%.
Network Capital Funding Overview
You can get started with Network Capital Funding online or over the phone. This lender operates in 45 states and Washington, D.C. It doesn't lend in Hawaii, Connecticut, Massachusetts, Missouri, or New Hampshire.
Loan Options
Network Capital offers the following types of mortgages:
- Conforming loans
- FHA loans
- VA loans
- Non-QM loans, including a bank statement mortgage and a mortgage for real estate investors that lets borrowers use the income from their investment property to qualify
- Home equity loans
- HELOCs
Network Capital Funding Mortgage Interest Rates and Fees
According to our review of Home Mortgage Disclosure Act data, Network Capital's mortgage rates are right around average.
You can view a small handful of current sample rates on Network Capital's website, but it doesn't have a tool that lets you see what rate you might get based on your situation.
In 2023, the average borrower getting a conventional loan with Network Capital paid $6,446 in origination charges, according to HMDA data. This is a bit high compared to other lenders.
Network Capital Funding Pros and Cons
Pros
- May accept non-traditional credit on its FHA, VA, and non-QM mortgages
- Good reviews from previous borrowers
- Multiple non-QM loan options
It can be challenging to get a mortgage if you don't have an established credit score. One of the things we like about Network Capital Funding is that it allows non-traditional credit on some of its loans. This means you can use alternative means to prove you're creditworthy, like providing your rental payment history.
Cons
- Hard to find information on its website
- You can't view customized rates online
Network Capital Funding's website doesn't provide much information about its loans or how its process works. This isn't necessarily a dealbreaker, but it can make it hard to compare Network Capital to other lenders if you're still researching and aren't ready to apply for preapproval just yet.
Is Network Capital Funding Trustworthy?
Overall, we think Network Capital Funding is a trustworthy mortgage lender. The company has an A+ rating from the Better Business Bureau and no recent major scandals.
What Borrowers Are Saying About Network Capital Funding
We looked at positive and negative customer reviews, online forums, BBB complaints, and other sources to understand what borrowers think about Network Capital Funding.
Speedy Experience With Knowledgeable Pros
Many previous Network Capital customers said their experience with this lender was smooth and quick, and that their loan officers were helpful and communicative.
How Network Capital Funding Compares
Network Capital Funding vs. Rate
Like Network Capital, Rate Mortgage is good choice if you're looking for a lender that offers non-QM loans. Rate offers mortgages for non-US citizens and bank statement loans.
Both of these lenders have good online customer reviews and will accept non-traditional credit (like rent payment history) on some of their loans. If you want to explore your options for tapping into your home's equity, Network Capital Funding offers both home equity loans and HELOCs, while Rate only offers HELOCs.
Network Capital Funding vs. Guild Mortgage
Guild Mortgage offers a wide range of mortgage options to choose from. If you're looking for a more niche mortgage type, Guild might suit you better. It also offers some perks that Network Capital doesn't, like down payment assistance.
However, Guild doesn't have any home equity options.
Network Capital Funding FAQs
Network Capital Funding is an online mortgage lender. It offers conforming mortgages, government-backed mortgages, non-QM mortgages, home equity loans, and HELOCs.
Yes, you can refinance your mortgage with Network Capital Funding.
Network Capital Funding has both conventional and government-backed mortgages, including non-QM loans. It also has HELOCs and home equity loans.
Network Capital Funding's rates are average compared to other lenders.
If you have an unusual situation, you might also want to consider a local credit union as an alternative to Network Capital, since they may also offer non-traditional options.
Why You Should Trust Us: How We Reviewed Network Capital Funding
For our review of Network Capital Funding, we used our methodology for reviewing mortgage lenders.
We look at four factors — loan types, affordability, customer satisfaction, and trustworthiness — and give each a rating between 1 and 5, then we average these individual ratings for the overall lender rating. Lenders get higher ratings if they offer a large number of loan types with affordable features, have positive customer reviews, and don't have any recent public controversies.
Our Overall Lender Rating
Loan Types: 4 out of 5
Network Capital offers a strong range of mortgages that should meet most borrowers' needs. It has conforming, government-backed, and non-QM loan options, as well as loans for tapping into your home's equity.
Affordability: 3.5 out of 5
We like that Network Capital has mortgages that allow lower credit scores (like FHA loans) and is willing to work with borrowers who have no credit score on some of its loans. Its minimum score for a VA loan is 580, which is lower than what many lenders allow. But its fees are on the high end.
Customer Satisfaction: 4.84 out of 5
This lender has very positive online customer reviews, earning an average rating of 4.88 out of 5 stars on its Zillow lender profile, based on over 300 customer reviews, and 4.8 out of 5 stars on its Trustpilot page, based on over 2,000 customer reviews.
Trustworthiness: 5 out of 5
Network Capital has an A+ rating from the BBB and no recent major scandals. BBB grades are based on honesty in advertising, transparency about its business practices, and effectiveness in responding to customer complaints.
