Will I have a prepayment penalty if I pay my loan off early? Some loans do have a prepayment penalty, if there is it will be outlined in the Promissory Note. 4spotsupport2020-01-20T03:35:59-08:00Borrower Payoff Questions| Share This Story, Choose Your Platform! FacebookXRedditLinkedInWhatsAppTumblrPinterestVkEmail