Buy a family home with $0 out of pocket (Gift of Equity) Here’s the play, step-by-step: \t1.\tKnow the value. Get a CMA or appraisal so you have the ceiling price. \t2.\tPull the payoff. Have your family member call their loan servicer for the official payoff. \t3.\tConfirm their net. Ask what they want to walk away with. \t4.\tDo the math. Gift of equity = Current value − (Payoff Seller’s net est. closing costs). That gift can cover your down payment closing if your loan program allows. \