funding Question multi-family financing a triplex

[Bill Hughes]

Hi,

My offer was just accepted on a triplex that I'm purchasing below market at $400k. I have cash to buy through a mixture of personal savings and the use of a HELOC I have out on 3 other rental properties I own. The purcahse won't be a problem, but I can't keep the HELOC funds tied up in this so, I would like to refinance it preferably with a 30yr loan when the purchase is complete. The local bank said they could offer a investment property loan at 8.65% (that's after paying points). They also said they could offer a commercial loan probably at a lower rate but shorter term with a balloon payment.
I've flipped and have been landlording for 5+ years now, but to date have never really looked for a loan on an investment property.  So, any ideas/guidance etc would be appreciated.