Loan terms on first investment property

[Michael Travis]

I have put an offer on my first 4 family unit and am in the process of picking my loan terms.  I am putting 20% down and the loan is for $76k.  My bank has offered me two options. 1. A 3 year term amortized over 20 years at 5.25% or option 2. a 5 year term amortized over 20 years at 5.5%.  I am not totally thrilled with either option as i didn't want to have a balloon at the end of my loan.  Going into the investment i was hoping to have a fixed rate over 15 years.  My question is are these two options horrible?  Are there banks that do 15 year fixed on 4 family investment properties?  Any guidance would be very helpful.  Thanks