We have had a commercial loan with US Bank since 1989. When we listed our building, we were told of the pre-pmt penalty but were promised they would waive it if we financed a new property with them.
We were delighted!
When we sold our building in Webb City, MO, the bank president then told us we would have only a 13-day window to close on the old and sign papers on the new...literally impossible when dealing with commercial property.
This bank does nothing to help their good customers or the small business owner in their city. We were charged a $12,400 pre-pmt penalty.
Product or Service Mentioned: Us Bank Loan.