Ranking mortgage loans in terms of the best terms can vary depending on individual circumstances and preferences. However, a general ranking based on common factors such as interest rates, down payment requirements, and eligibility criteria. Here’s a rough ranking from top to bottom:

1. Conventional Fixed-Rate Mortgage: Offers stable monthly payments and predictable interest rates over the life of the loan, typically requiring a higher credit score and down payment.
2. FHA Loan (Federal Housing Administration): Requires a lower down payment and more flexible credit requirements than conventional loans, making it accessible to borrowers with less-than-perfect credit.
3. VA Loan (Department of Veterans Affairs): Available to eligible veterans, active-duty service members, and surviving spouses, offering competitive interest rates, no down payment requirement, and limited closing costs.
4. USDA Loan (US Department of Agriculture): Designed for rural and suburban homebuyers with low to moderate incomes, offering low or no down payment options and favorable terms.
5. Adjustable-Rate Mortgage (ARM): Initially offers lower interest rates and monthly payments than fixed-rate mortgages, but rates can adjust over time, potentially increasing payments in the future.
6. Jumbo Loan: Designed for high-value properties that exceed conventional loan limits, requiring larger down payments and stricter credit requirements.
7. Interest-Only Mortgage: Allows borrowers to pay only the interest on the loan for a certain period, typically resulting in lower initial payments but higher costs over time.
8. Balloon Mortgage: Offers lower monthly payments for a fixed period, after which the remaining balance is due in a single “balloon” payment, posing a risk of payment shock for borrowers.
9. Subprime Mortgage: Available to borrowers with poor credit history, often featuring higher interest rates, fees, and stricter terms to offset the increased risk for lenders.
10. Reverse Mortgage: Designed for homeowners aged 62 and older, allowing them to convert home equity into cash payments, but comes with high fees, interest rates, and risks for borrowers and their heirs.

Keep in mind that the best mortgage loan for you will depend on your financial situation, credit score, down payment amount, and long-term goals. It’s essential to compare multiple loan options and consult with a qualified mortgage advisor to determine the most suitable option for your needs. We also recommend reaching out to a HUD-approved counselor to walk you through your options and decide holistically which loan makes the most sense for your financial situation.