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I am here in US through H1B. I have a decent amount of loan back in India. Also I am paying a lot in Tax here.

Is there any way I can get any loan here in US and pay off my loan in India and reduce the tax here in US as well?

Note: I am in H1B. I don't own any house here in US.

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Is there any way I can get any loan here in US

yes you can try and get a personal loan.

and pay off my loan in India

Yes you can pay of the loan in India.

and reduce the tax here in US as well?

This is not possible. Only certain types of loans get tax benefits.

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Is there any way I can get any loan here in US and pay off my loan in India and reduce the tax here in US as well?

  1. Buy a house and get a mortgage. That will reduce your taxes.
  2. Take out a (low interest) HELOC to pay off your existing loans.

However, you'd need a 20% down payment, and if you had that much money you'd have already paid off your loans.

So... echoing @Dheer, the answer is "no".

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