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need a loan to buy property in india. what are my options?
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in usa, if you take a personal loan, you will probably get rates between 8-19%. it is better that you take a loan in india, as home loan rates are about 10.25%(10.15% is the lowest offered by sbi).  this might not be part of the answer, but it is safer to hold usd than indian rupees as india is inflating so much that the value of the rupee is always going lower(see 1970 when you could buy 1 dollar for 7 rupees). there might be price fluctuations where the rupee gains against the dollar, but in the long run, i think the dollar has much more value(just a personal opinion). and since you are taking a home loan, i am assuming it will be somewhere between 10-20 years. so, you would actually save a lot more on the depreciating rupee, than you would pay interest. yes, if you can get a home loan in usa at around 4%, it would definitely be worth considering, but i doubt they will do that since they would not know the actual value of the property. coming to answer your question, getting a personal loan for 75k without keeping any security is highly unlikely. what you can do since you have a good credit score, is get a line of credit for 20-25k as a backup, and use that money to pay your emi only when absolutely required. that way, you build your credit in the united states, and have a backup for around 2 years in india in case you fail to pay up. moreover, line of credits charge you interest only on the amount, you use. cheers!
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