How do these commercial lending terms sound?

[Jason Fike]

What do you think about these terms? I'm looking to refi 3 single family houses I own. I'm speaking with a commercial lender. This is the offer: 3/1 arm first 3 years fixed at 4.65% adjust once annually at CMT + 3.75% Fee = 1% 65% LTV based on appraisal I could rework the terms after 3 years. I prefer a fixed interest rate but I don't know if that's available in the commercial world. Thanks