Home Loan in India and US Credit Report

kichlu · Post by **kichlu** » Tue Jul 24, 2007 12:06 am

I took a home loan one year back in India. At that time , Transunion did a credit check and the inquiry shows up in my credit report using Equifax. However in my credit report, the mortgage details are empty...indicating that I have no mortgage anywhere. My question is - do details of home loans taken in India show up in US credit reports? I am planning to buy a home in the US shortly and will the home loan in India affect my getting a mortage here?

Thanks.

kichlu · Post by **kichlu** » Tue Jul 24, 2007 1:17 am

Anyone has anything to say?

senthilis · Post by **senthilis** » Tue Jul 24, 2007 3:01 am

Credit check happens when you take a home load from Citi bank, India or ICICI. Thats the policy of these banks have for NRI US based customers. For that matter, anyone can do credit check if they are lending you money just to make sure you have a good credit rating.

However these banks will not report the home loans activity to the credit bureaus / credit reference agencies in US.

LLLLWhenR2I · Post by **LLLLWhenR2I** » Tue Jul 24, 2007 5:55 am

I agree with post 3.

They do credit check just to check the trustworthiness of the person taking loan because verification of NRIs is difficult. They don't report loans to credit agencies.

Subbu · Post by **Subbu** » Wed Jul 25, 2007 5:48 am

I have recently applied for loan from UTI Bank so I will check if they run a credit check.

One question: after the loan was sanctioned ( not yet disbursed), they took 6 EMI post dated checks and one single check covering the entire loan amount ( !!! ) as security.

Have you heard anything like this? A single check for the loan payment as secuity?

kichlu · Post by **kichlu** » Fri Jul 27, 2007 4:47 am

No they did not take the whole amount in one check. They took the monthly checks only.