Right now the rental market in the GTA is good. The vacancy rate is high and you should be able to get the landlord to agree to a shorter lease. But then if you are restricted by the school district (you want a particular school) then it is tougher. Good school districts have tighter rental markets. (Obvious huh?)

You should be able to get a good rate on your mortgage if you have good U.S history. But that is only wth the big banks. The place where you work MAY have a co-op bank / credit union. Try there , they may be able to beat the bank rate.