Loans for buying property in a foreign country
One of my retirement goals is to buy a house in India. I have been in the US since Oct 2009 and have had only one loan ($8K car loan) which I paid without any problems. I have a secured credit card ($2K limit) which I use about 30-50% every month and pay the bills in full. So I think my credit history is clean, its just not that old enough so I don't know where I stand with respect to the credit score.
I would like to take advantage of lower interest rates here in the US (If I get loan in India, I may end up paying 15% and up due to my non resident status). I am just not too sure how do I go about with the loan that I would like to use in India. Almost everywhere I read, the author suggests to shop around for loan. At the same time, I have heard that if you make a lot of loan applications, it may lower your credit score. In such case, how do I really 'shop around'?
Any pointers are welcome.