When Keyla and I bought our land and had a home built on it, we stuck with what we knew, fixed rate 30 year loan. It seems to be back en vogue. I found it amusing that with all the fallout from sub-prime and alt-a loans, it seems the industry had its fill of chewing on investors and now would like us to heal up and regroup. Sub-primes are evil, like a car balloon loans. Personally I wish Keyla and I could have done the 15 year fixed loan but the payment was a bit much. Oh well, I just hope none of my neighbors fell into the sub-prime trap. We have some very cool people around us, hate to see any of them go.