Hello there -
I have a couple questions for you...
1. Do you own the land the manufactured home is on?
2. Where is it located?
I ask you this because there is a lending program out there for lower income that may work, at least, on the build and buy side. It's called the USDA Direct Loan program and it is only available via USDA. No other lender can help you with this specific loan. There is another type of USDA loan that is available via other lenders but it's not specifically for low income. Whether you own the land, or not, and where it is located will dictate whether you have this loan available as an option.
As far as what you currently own and owe, you either have to sell it and bring money to the closing (if it's worth less than what you owe) or, you need to rent it out and cover the payments on the property. There is another option, but if you want to buy again immediately (take out another loan), the 3rd option wouldn't work for you. That option would be to sell the property under the short sale method (which I've explained here: http://www.northidahodreamteam.com/what-is-a-short-sale).
In regards to your VA loan question, there is a possibility that yes, an unmarried couple can use a VA loan to buy a home. And finally, no, it is not possible to roll an existing home loan into a new loan. There is a possibility it may work in your case, but that depends on the answer to the 2 questions above.
If you have more questions, please don't hesitate to ask. You can text, email or call me.
Text: 208-819-2965 Email: team at northidahodreamteam dot com Call: 208-904-3356