In this paper the general dispersion characteristics of a three dimensional homogeneous Transmission Line Method (TLM) network, based on the condensed node, is analyzed. The outcome is an implicit expression, relating an arbitrary propagation vector in the network to the free space propagation constant. The dispersion characteristics of the condensed node are then compared to the expanded node and the Finite Difference Time Domain (FD-TD) scheme demonstrating superior dispersive properties of the condensed node.