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    gibo7360's Avatar
    gibo7360 Posts: 1, Reputation: 1
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    #1

    May 20, 2015, 11:39 AM
    H1B visa and working in USA
    I am on H1B visa and working in USA. I want to buy house in India. Can I get loan in USA?
    Else Can I get personal loan?
    smoothy's Avatar
    smoothy Posts: 25,492, Reputation: 2853
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    #2

    May 20, 2015, 11:45 AM
    Unlikely. Financial institutions here want collateral to secure the loan if you fail to pay (as in foreclose), something not possible if its in a foreign country.

    My wife turned down MANY loan requests for that same thing for those exact reasons. And its unlikely they will give you that much in an unsecured Personal loan with no credit history or ties here beyond that temporary H1B status.
    ma0641's Avatar
    ma0641 Posts: 15,675, Reputation: 1012
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    #3

    May 20, 2015, 06:42 PM
    Doubt you can get a mortgage. They don't want property in India if a foreclosure has to go through. Personal loans are very expensive, particularly without collateral, and interest is not deductible on US returns. You might do better looking at Indian banks.

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