Mortgage Alliance/MPH is rolling out a new mortgage product designed to show consumers how to save money by paying the least amount of interest over the term of their mortgage, the company said Wednesday.

Mortgage Alliance, Canada’s largest network of independent mortgage professionals, says the SmartMortgage gives consumers the benefit of accelerated home ownership via a reduction in interest paid and becoming mortgage free faster.

Consumers can also use the SmartMortgage to help achieve life goals like investment, vacation, post secondary education expenses or personal wealth accumulation.

Mortgage Alliance professionals work with consumers demonstrating in real-time the options, benefits and impact of the SmartMortgage. This affords the consumer the opportunity to make the decisions that help them achieve their goals, Mortgage Alliance says.

“Like our successful RightMortgage, the SmartMortgage places the control of the mortgage process directly in the hands of the customer and that’s just where it should be. They can self-select the parameters of their personal SmartMortgage with the guidance and counsel of a Mortgage Alliance professional,” says Michael Beckette, president and CEO of Mortgage Alliance.

“Pay less interest and gain more equity is the desired outcome these days, and informed people know it’s not just the rate”, says Beckette.