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Network Capital Funding is an affordable mortgage lender with great online customer reviews. 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 a strong choice.
Network Capital Funding Mortgages
On Bankrate's website
Insider’s Rating
4.46/5
Recommended Credit
620
Minimum Down Payment
3%
Types of Loans Offered
Conforming, FHA, VA, non-QM, home equity loan, HELOC
Pros
- Accepts non-traditional credit
- Ranks high in customer satisfaction
- Offers mortgages for self-employed borrowers and real estate investors
Cons
- Hard to find loan information on its website
- Can’t view customized rates online
Network Capital Funding Mortgages review External link Arrow An arrow icon, indicating this redirects the user."
Product Details
- 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%.
What is Network Capital Funding Known For?
Non-QM Loans, Options for Investors, and Other Loan Types
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
Where Is It Available?
You can get started with Network Capital Funding online or over the phone. This lender operates in 45 states and Washington, DC. It doesn't lend in Hawaii, Connecticut, Massachusetts, Missouri, or New Hampshire.
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 2022, the average borrower getting a conventional loan with Network Capital paid $5,606 in origination charges, according to HMDA data. This is a bit high compared to other lenders, though we found that these charges largely came from discount points, which are an optional cost you can pay at closing to lower your rate.
Network Capital Funding 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: 4 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 rates are just average.
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 Funding currently has an A+ rating from the Better Business Bureau. BBB grades are based on honesty in advertising, transparency about its business practices, and effectiveness in responding to customer complaints.
Network Capital Funding Pros and Cons
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You May Still Qualify if You Have No Credit Score
It can be challenging to get a mortgage if you don't have an established credit score. Fortunately, Network Capital Funding 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.
Its Website Isn't Super Helpful
Network Capital Funding's website doesn't provide much information about its loans or how its process works. This isn't necessarily a deal breaker, 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.
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. Guaranteed Rate
Like Network Capital, Guaranteed Rate is good choice if you're looking for a lender that offers non-QM loans. Guaranteed Rate offers mortgages for non-US citizensandbank 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 Guaranteed Rate only offers HELOCs.
Guaranteed Rate Review
Network Capital Funding vs. Guild Mortgage
Network Capital Funding and Guild Mortgage both allow borrowers with no credit history to apply using non-traditional credit on some of their mortgages. Both also rank strong in customer satisfaction.
If you're looking for a more niche mortgage type, Guild might suit you better, since it has a wider range of options than Network Capital.
Guild Mortgage Review
Network Capital Funding FAQs
What is Network Capital Funding?
Network Capital Funding is an online mortgage lender. It offers conforming mortgages, government-backed mortgages, non-QM mortgages, home equity loans, and HELOCs.
Does Network Capital Funding do refinance loans?
Yes, you can refinance your mortgage with Network Capital Funding.
What types of loans does Network Capital offer?
Network Capital Funding has both conventional and government-backed mortgages, including non-QM loans. It also has HELOCs and home equity loans.
How do Network Capital's rates compare to other lenders?
Network Capital Funding's rates are average compared to other lenders.
How do I contact Network Capital Funding?
You can contact Network Capital by starting an application online or by calling one of the phone numbers listed on its website.
Are there alternatives to Network Capital Funding?
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.
Mortgage Reporter
Molly Grace is a mortgage reporter for Business Insider with over six years of experience writing about mortgages and homeownership.ExperienceIn addition to her daily mortgage rate coverage, Molly also writes mortgage lender reviews and educational articles on homebuying and analyzes data and economic trends to give readers actionable and up-to-date information about the housing market.She also tracks affordable mortgage and down payment assistance programs offered throughout the country to keep her readers informed of homebuyer programs available to them.Before Business Insider, Molly was a blog writer for Rocket Companies and helped to create Rocket Mortgage’s Shorty Award-winning podcast Home. Made.Molly is passionate about covering personal finance topics with empathy. Her goal is to make homebuying knowledge more accessible, especially for groups that may think homeownership is out of reach.ExpertiseMolly is an expert in the following topics:
- Mortgages and mortgage lenders
- Home equity
- The housing market
- The economy and the forces that impact mortgage rates
- Budgeting and saving
- Credit
- Insurance
- Retirement savings
EducationMolly earned a bachelor's degree in journalism from Indiana University.She is based in Michigan and has a dog and two cats.
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