Instant home loan decisions with AI: The future of home financing is here
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BASIC Home Loan have launched HOM-i, India’s first AI platform offering instant home loan approvals, multi-language support, and smarter lender matching to transform homebuying
BASIC Home Loan, one of India’s fastest-growing mortgage-focused fintech companies, has announced the launch of HOM-i (pronounced Homey) — an AI-powered platform designed to deliver instant home loan decisions and simplify the entire homebuying process for Indian consumers. HOM-i uses generative AI and machine learning to assess a borrower’s credit profile, evaluate properties, verify project approvals, and match users with suitable lenders. Buyers can interact with HOM-i via text, voice, or video chat in more than 30 Indian languages, including hybrid languages like Hinglish, making expert assistance available 24/7.
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During its beta phase, HOM-i analysed over 3 lakh customer profiles and 2 lakh property profiles, facilitating housing loans worth ₹30,000 crore. It also identified common rejection patterns, helping lenders and borrowers improve loan success rates. The system is built on a large dataset of over 6 lakh call transcripts, 2 million minutes of advisor conversations, and 1 million digital interactions, allowing it to understand borrower needs and behaviours in depth.
Ahead of its early access launch in October and full rollout in November, 700 BASIC advisors will conduct 2 million minutes of human-led training to enhance HOM-i’s accuracy. The platform currently operates at 60–70% precision and aims to reach 90% within six–nine months. “HOM-i will bring speed, clarity, and confidence to every stage of the housing loan journey,” said Atul Monga, CEO and co-founder, BASIC Home Loan. “Our vision is to make home financing faster, smarter, and more transparent for millions of Indians.”
Future updates will integrate land records, municipal databases, and AI-driven property valuation to enable instant ownership verification and fair pricing — reducing paperwork, delays, and uncertainty in homebuying.
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