HousingWireHousingWire
zavvie, a Colorado-based iBuyer and fintech company, has launched an AI-powered platform, HomeFAI, that is designed to accelerate the speed of cash offers and funding for homebuyers.
The new system is described as an upgrade to zavvie’s portal for cash buyers and boosts its Cash Buy Before Sell program, giving homeowners added financial flexibility to purchase their next home before selling their current one.
“This is AI meets modern home financing — and it’s transforming the way people buy homes,” Lane Hornung, co-founder and CEO of zavvie, said in a statement.
“Our new platform brings unprecedented speed and certainty to home financing, helping loan officers and their clients win more deals. With AI automating underwriting, risk assessment and transaction management, we’re making cash offers and alternative financing solutions more accessible than ever.”
The HomeFAI system promises to streamline home financing, with AI-driven cash offers processed in as little as one hour. Conversions are also likely to be stronger under the system, with zavvie’s Cash Advantage program achieving a 92% mortgage attachment rate.
zavvie said that HomeFAI adoption has surged 155% year over year, with 83% of loan officers switching to the new app that’s available in all 50 states. The company also said that its partners that use the platform include 10 of the nation’s top 30 mortgage lenders.
“HomeFAI offers a next-gen system for loan officers, real estate agents, and their homebuyers,” said Venkatesh Baglodi, zavvie’s chief technology officer. “By leveraging AI for automation, risk assessment, and real-time decision-making, we’re enabling a more accessible, secure, and efficient financing experience — a major breakthrough in the alternative financing world.”
“Cash and certainty win deals,” Hornung added. “zavvie is pioneering AI-powered alternative financing, ensuring more homebuyers can compete and succeed.”
