One of the scariest parts of buying a new home, especially for a first time home buyer, are closing costs. What are they? Who pays them? How much will I owe? The first thing you should do when starting the home buying process is speak to a mortgage broker. They will break down all of the numbers for you and make sure you know how much you can realistically afford. Until then, here are a few articles from our friends at The Home Buying Institute to answer your initial questions.