I'm not sure if they do the same in the US but here in Australia most banks do pre-approvals for home loans. It made the process dead simple for me. In my case

I'm not sure if they do the same in the US but here in Australia most banks do pre-approvals for home loans. It made the process dead simple for me. In my case I spent about 45 mins one afternoon in a meeting with mortgage officer. Came out with a document saying I was conditionally approved for a loan of up to $X which was good for six months. Then I went looking for a place. There is probably some room for streamlining the process but most people my age that I know tended to go through the same Pre-approval route I did. The bank does all the background checks, diligence and such while you are still looking for a place to purchase which seems sensible to me.