Building U.S credit history vs. EIN vs. ITIN

I guess my intention is to build good u.s credit history to later get a mortgage to purchase another home in the u.s. I currently own one and paid with cash. So, i have no credit history for this purchase and can not be qualified to get a mortgage for buying 2nd or 3rd one.

So my understanding is that Canadians can not get SS# without working visa and thats fair enough. But can i register a business in the u.s and go through a business route to build personal and business credit?

What numbers do i need to register a business? EIN or ITIN or both. Will ITIN work the same as SS in terms of taxation and building credit perspective.

Oh, BTW i am able to open u.s checking(BOA) w/o SS# and have somewhat consumer credit, but no income coming in, thats why i plan to start a business and go that route to establish myself. Hope I stated my situation clearly. Thanks in advance!

ITIN will do nothing to build up credit. Period. Just because it has 9 digits does not make it equivalent to SSN for credit purposes. Otherwise, your SIN would do nicely, no? (It doesn't)

ITIN is strictly for tax.

EIN *might* get you some business credit, but business credit requires business viability, not simply an EIN.

You can apply for a EIN number online and receive the number instantly. Building credit through your EIN number is similar to building up your personal credit file. It is a bit difficult to get your first line of credit, but once you show your business is responsible and has handled debt well, your credit score will rise and establishing further credit is much easier. To begin to use your EIN for credit, you must have a few things in order.....

Read more: How to Use an EIN for Credit | eHow.com http://www.ehow.com/how_6574783_use-ein ... z18HvsPLSy

Any credit you build up will strictly be in the name of the business. It will do nothing for your personal credit, since you won't have an SS N to tie it to.

You can buy a house with zero credit rating in the US. I just moved down here on a TN status, put a decent down payment and a letter of employment and I just got a 15 year locked in @ 3.25%. Talking to some American's with good credit rating, I got a better deal then they did (probably the large down payment helped).

~Scott

I am a Los Angeles based Attorney and CPA who handles cross-border US-Canadian tax matters. Feel free to reach me through this site if you need assistance with your US and/or Canadian tax filings and related issues.

When you say large down payment, was it 35% or more? I just keep hearing if you put down at least 35% it is no problem.