This post hits very close to home with me because I have the tire marks in my back to prove it. In a particular transaction... let's just call it "my worst nightmare"... the buyer had a hard time to get the loan as it was; then he goes and buys a $500 car payment a week from closing. Thus, this post:

Whether you are buying your first home or moving to a different place, the process of buying a home is a very exciting one. Often, after having found the perfect home and put it under contract, buyers waste no time thinking about how they are going to make this new home, their home. And that leads to the discussions about furniture, decor, entertainment and finally the fantastic process of shopping for "new home stuff". After having been pre approved for their loan some buyers make the mistake of buying the "new home stuff", enticed by zero percent financing options that many stores offer. As exciting as shopping for a new home can be, the smart thing to do is wait until after the closing is consummated and the loan has gone through. The reason for this painful waiting period, is that when retail stores offer you credit terms, they have to check your credit report which in turn lowers your credit score a bit. The more credit stores you apply in, the more your credit is affected negatively. Unfortunately, this can have serious negative effects on your interest rate and in some cases may prevent you from actually getting your new home. As painful as that may be, if you are in the process of buying your home, don't make any credit purchases until after the closing to ensure that you get the best rate on your mortgage.