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minglevi

Can we get home loan from US institution to purchase real estate in India?

By minglevi in India

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minglevi Collaborator

minglevi   0

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We are thinking of buying an apartment in India and wondering if we can get home loan from US institution?

I don't think so but just wondering if some has more experience?

I know we can get personal loan or can get refinance on existing loan but I would prefer a home loan ..and loan amount required is about 15k USD.

I am not comfortable getting home loan from Indian bank as NRI because of higher interest rate and paper work.

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NigeriaorBust Grand Master

NigeriaorBust   4,087

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Filed: Citizen (apr) Country: Nigeria
 Timeline
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The institution wants something they can reprocess if you fail to repay. So it is unlikely that you can use the out of country residence as the secured property/ What would work better is a loan against a US property where you use the proceeds for the out of country property

This will not be over quickly. You will not enjoy this.

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