In 1904 the Village of Owen incorporated, with 315 people. In 1906 the Owen Company started the Owen Box and Crating factory and the Woodland Hotel. In 1907 the Owens organized the State Bank of Owen, headed by J.G. Owen.
The Consumer Financial Protection Bureau estimated the typical interest rate for a manufactured home loan in 2012 at 6.79 percent. By contrast, the average 30-year fixed rate on a conventional mortgage that year was 3.6 to 4.2 percent, according to HSH.com, a publisher of loan information.
Title I manufactured home loans are not Federal Government loans or grants. The interest rate, which is negotiated between the borrower and the lender, is required to be fixed for the entire term of the loan, which is generally 20 years. Purpose of the Loan.