Matt wrote to me with an unusual homebuying tale which he’s also posted to his site, Zero Down: My Homebuying Story. On December 29th, he closed on a $90,000 Texas home. His total out-of-pocket expense was $70. He writes:

Anyone who can get a mortgage can pay zero down for their new home. I wrote this web page because I think I have an interesting story. Some of the home buying techniques I discovered are not widely publicized, and in the spirit of sharing, here is how I did it.

Matt’s secret? Asking for a “seller’s gift”, which is a financial sleight-of-hand that, in effect, builds the down payment into the mortgage.

I was worried that Matt’s site might be some sort of scam, but after checking things out — and based on Matt’s assurances — I believe he is for real. As he says, “I am not a real estate agent, a mortgage broker or an attorney. This is a true story, but your experiences may be different.”

It’s important to note that Matt is on top of his finances: he’s young, upwardly mobile, and frugal. He just didn’t have cash for a down-payment. Some creative thinking helped him purchase a house. But a seller’s gift should not be viewed as a means to get into a house with a mortgage that will break your back.

Read more about seller’s gifts at:

And be sure to check out Matt’s story about his no down payment home.

GRS is committed to helping our readers save and achieve their financial goals. Savings interest rates may be low, but that is all the more reason to shop for the best rate. Find the highest savings interest rates and CD rates from Synchrony Bank, Ally Bank, GE Capital Bank, and more.