BASIC Home Loan (BASIC), India’s fastest-growing mortgage fintech, today announced the launch of HOM-i (Homey), India’s first AI-powered home loan assistant that delivers instant home loan decisions by connecting homebuyers with the right lenders.
HOM-i is designed for modern Indian homebuyers, offering instant credit checks, property evaluations, APF status tracking, and personalized lender recommendations through a user-friendly AI interface. The platform supports interaction via text, voice, or video chat in multiple Indian languages, making expert guidance accessible anytime, anywhere.
During its beta phase, HOM-i analyzed over 3 lakh customer profiles and 2 lakh property profiles, enabling ₹30,000 crore in sanctioned loans. It also identified key rejection patterns, helping borrowers and lenders improve approval outcomes.
Trained on 6 lakh call transcripts, 2 million minutes of advisor conversations, and 1 million digital interactions, HOM-i understands borrower preferences, behavior, and pain points. The platform integrates credit and product data from 100+ lenders and offers 15,000+ pre-approved lender-builder project combinations, simplifying the financing process.
Ahead of its early access launch in October and full-scale rollout in November, 700 BASIC Home Loan advisors will contribute 2 million minutes of human-led training to refine HOM-i’s decision-making capabilities. The platform currently achieves 60–70% accuracy, with a goal of reaching 90% precision within 6–9 months.
"HOM-i is set to accelerate India’s journey toward ‘Housing for All’ by making home loan approvals faster, smarter, and more transparent," said Atul Monga, CEO & Co-Founder, BASIC Home Loan.
"By reimagining the mortgage experience with AI, we bring speed and certainty to every stage—from eligibility checks and project verification to choosing the right lender."
Unlike traditional rule-based engines, HOM-i leverages both quantitative and qualitative insights, handling complex loan scenarios and policy deviations. Developed in-house, its LLM-powered AI model supports 30+ Indian languages, including hybrid languages like Hinglish, ensuring accessibility across Bharat.
Future updates will integrate land records, registry, and municipal databases for instant property verification, eliminating paperwork and delays. AI-powered property valuations will ensure fair pricing for both homebuyers and lenders.
"Our commitment is to continuously enhance HOM-i. By collaborating closely with lenders and advisors, we aim to make homeownership seamless and accessible for millions of Indians," added Monga.
About BASIC Home Loan
Founded in 2020, BASIC Home Loan is building India’s largest online mortgage brokerage to make home loans accessible to low- and middle-income households in Tier-2 and Tier-3 cities. With a network of 20,000+ agents, presence in 650 districts, and 100+ financing partners, BASIC processes over $1 billion in loan applications monthly.
BASIC is backed by leading investors, including Bertelsmann India Investment, CE-Ventures, Ashish Kacholia, Nikhil Kamath’s Gruhas, Picus Capital, Venture Catalysts, 9Unicorns, Earlsfield Capital, Good Capital, Dexter Angels, IIM Indore Alumni Angel Fund, CommsCredible Venture Fund, and more.
