A receiver system includes a DC (direct current) offset estimation block configured to capture a plurality of sample pairs, each sample pair including a first sample of a first signal and a second sample of a second signal. The first and second signals are passed through one or more gain elements. The DC offset estimation block is also configured to apply a modified circle-fit algorithm to the plurality of sample pairs to estimate a first DC offset exhibited by the first signal and a second DC offset exhibited by the second signal, the first and second DC offsets generated by the gain elements, the modified circle-fit algorithm includes a magnitude approximation term used to iteratively estimate the first and second DC offsets. The receiver system also includes a DC offset correction block configured to calculate one or more correction control signals based on the first and second DC offsets.