RE Site Adds Mortgage Service

A rapidly growing Internet site for do-it-yourself owners who want to avoid paying hefty real estate commissions has added a mortgage shopping service aimed at homebuyers also looking to save a few bucks.YourLoanHelper.com will be "open to everyone, but in tune with the needs of independent homebuyers," said Colby Sambrotto, chief operating officer of the New York-based ForSaleByOwner.com. The site is licensed to operate in 48 states, Mr. Sambrotto said, and will maintain its own dedicated customer service team, along with a staff of mortgage counselors available around the clock. It will shop the market on behalf of potential borrowers and solicit proposals from competing primary lenders. Then it will make recommendations to consumers and let them follow through. Mr. Sambrotto said the service will shop a database of some 300 lenders. According to some industry estimates, one in four homes are currently being sold directly by their owners. ForSaleByOwner.com claims to be the country's leading resource for independent home sales, connecting buyers and sellers of homes both on- and off-line. The new service can be found at http://www.yourloanhelper.com.