Hii,
I want to know as I am planning to buy a house soon and thereafter if in future I apply for h1b visa will my home loan interrupt my chances to get the visa? I mean is there any rule that I have to payback all loans and then only I will be eligible?

Not that I know of, but this is REALLY a question for an immigration attorney.

At the least, post it in the LAW forum under Immigration Law.