James is working with several mortgage brokers to secure a loan to purchase a new house. He plans on living in the house for many years to come and wants a loan that will have minimal risk. What type of loan should James get?

An adjustable-rate mortgage. His loan payments will adjust over the life of the loan.

A fixed-rate loan. His loan payments will remain constant, which will allow him to properly budget for the payments.

A term loan. This will allow James to have smaller monthly payments with a balloon payment at the end of the loan.

A negative amortizing loan. This will allow James to pay off the loan more quickly.