NMLS# 2297

4.8 of 5stars402 Reviews

Network Funding, LP

  • Recommended Lender
    Recommended 96%
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Lender Summary

At Network Funding, we embrace the role of technology in the mortgage loan process. However, we believe that it is no substitute for one-on-one interaction with our clients. Our number one goal at Network Funding is to help our clients understand how their mortgage works and to provide them with the best option to put them on the right track to financial freedom. Network Funding is committed to our customers, if you don’t believe us, check out Network Funding’s reviews to see what other LendingTree customers are saying.

What they're saying

Ratings & Reviews
402 Reviews
  • Interest Rates
    Excellent
  • Fees & Closing Costs
    Excellent
  • Responsiveness
    Excellent
  • Customer Service
    Excellent

Review Breakdown

Buyer Beware

I am a first time home buyer. I expected this process to be lengthy and involved. I also thought, I knew what I was getting into. Boy was I wrong.

When I was first contacted by my loan officer, Brad Richards, who I must admit, is wonderful, we discussed a fixed rate for a 30 yr mortgage at 3.5% with a 4.0% APR. I was very satisfied with this, to the point I dropped my initial lender and gave Brad my business. Weeks later I would receive my first set of disclosures. The rates had gone up to 3.625% and 4.1%. I questioned Brad on this matter and he assured me there was nothing to worry about and that their company prefers to over estimate so that there are no surprises at closing. Satisfied with this answer, I continued on. Yesterday, 13 days before closing, I received my final set of disclosures. Enclosed was my locked in rate of 3.75% and 4.24% APR. Furious, I called Brad. He told me the market had changed and average rates were at 3.7%. Not buying that, I phoned my initial lender. He was still able to get me rates at 3.5% and 4.0%. I asked him why Network Funding could not do the same and he could only tell me that they should be able to get the same rates. Unsatisfied with my rates, I called Brad to tell him I wanted my rates fixed or I would consider taking my business elsewhere. For my troubles, I received a $475 credit (the cost of my appraisal). I was told they could not change my rates as they were comparable to the current market. They basically bent me over the barrel, dropping a bomb on me 13 days before closing. Because I have so little time, and fear the thought of not closing on time and asking my sellers to extend our contract, I am forced to take this kind of treatment. Never again will I use this company, nor would I ever recommend them to anyone I know. Maybe my worst enemy. And before anyone from Network Funding decides to respond to this review, let me just tell YOU, I looked TODAY, on this very site, and see that rates in Texas are as good as 3.38% with an APR of 3.5%. So don't tell me I got what the market was offering. Sell that junk to someone else.

2/26- I received Ms. Heather Turner’s lead. She didn’t have a house picked out yet and wanted to discuss rates & APR. I mentioned to her that the par rate was 3.5% with no lender credit. At this point she hasn’t decided if she will be paying the closing costs or getting seller contributions. I also explained to her that I can only estimate the APR for now since she wasn’t committed to a purchase price, etc and also mentioned that the APR is just an estimation since I have no control over third party fees that are included in the calculation of the APR. 3/7- Ms. Turner contacted me and was under contract on a particular home. I received her necessary paperwork and supplied her with the initial disclosures. She didn’t receive enough seller contributions to cover all of her closing costs so we mutually agreed that bumping up the rate to 3.625% will give her a lender credit to cover the remainder of the closing costs. She agreed to this plan and had no issues with it at this time. We also decided to float the interest rate since her closing date wasn’t scheduled until April 18th and this was outside of the 30 day lock period. 4/1 – The closing date was pushed to April 10th. Upon reviewing the interest rates, I informed Ms. Turner that the market took a turn for the worst and the rates have increased by 1/8. We discussed the rate and there was no surprise as we already talked about what was going to be locked. She had no problem with this until April 3rd when she decided to call another lender which told her (obviously) a better rate and APR. Rates have definitely turned lower this week from when we locked. Rates adjust up and down weekly. If a rate was locked on 4/1 and the market is offering a lower rate today it’s obvious there are better deals currently. The day the rate was locked was the best rate available for that day based on loan criteria for this specific borrower. In order to close the 10th we have to lock in a rate prior to so that we have enough days of disclosure for compliance purposes. Our rates are what the market averages for that specific day and any adjustments based on your criteria. We even provided an additional credit for the appraisal back to the client to provide some comfort assistance after locking the loan. If were compared apples to apples the same day of rate locked we would be right where the market average is. The loan is scheduled to close on time, and we did a great job processing the loan from start to finish which is the most important factor.
  • LendingTree Customer:

    Yes
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    Lender Review

Wonderful experience from start to finish.

This was a great experience from start to finish. My loan officer promptly responded to each and every email/phone call and completely answered every question I had. I would highly recommend Network Funding, LP and more especially Brad Richards. It was a completely painless experience.

  • LendingTree Customer:

    Yes
  • Loan Type:

  • Review Type:

    Lender Review

Great Service

I enjoyed the entire process. Everyone was very responsive and helpful during the purchase process. They were very attentive to the details so on closing day, the process was excellent. If you buying a home, I would recommend them.

  • LendingTree Customer:

    Yes
  • Loan Type:

  • Review Type:

    Lender Review

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LendingTree Certification:

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Network Funding, LP

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