There are lenders out there, just fewer and far between, many only lend in certain areas/states as well. You may also qualify under certain Rural Homes guide lines. Much of it will depend on the age of your properties and whether or not they are in compliance with your county/state codes for being secured to a foundation or not. HUD has guide lines for these types of properties as well. This is just a brief summary from Chase who is one of the strictest lenders as far as guide lines go:
In order to be eligible for sale to Chase, factory built housing must assume the characteristics of site-built housing, and meet local building codes. This includes: • modular, • prefabricated panelized, • kit housing, including some log homes, • sectional housing
Manufactured housing (mobile home) is ineligible for sale to Chase. Characteristics of manufactured housing (mobile homes) include: • is constructed away from the property site • may include its own chassis • may include towing hitch, wheels, and axles (which may have been removed or be non-viewable) • may be considered single-wide, double-wide, or triple-wide • will have a HUD label and a HUD Data Plate • may be permanently affixed to a permanent foundation in accordance with the manufacturer’s requirements for anchoring, support, stability, and maintenance. Any evidence that the collateral is manufactured housing in whole or in part (such a as a mobile home with stick-built additions) renders the loan ineligible for purchase by Chase
Here is the link to HUD: http://portal.hud.gov/hudportal/HUD and I found his lender online: http://www.palmharbor.com/our-services/finance-with-cpm/ and from Freddie Mac: http://www.freddiemac.com/sell/factsheets/pdf/guaranteedruralhousing_223.pdf
I would recommend getting the refinance on the stick built home and not including the value of the modular home at all. The appraisal may include it as a “storage building” or the like but not count it as a residence. Or it could simply be excluded from the appraisal and the mortgage.
If you need the additional value then you could run into problems. One, you need to make sure that you are in compliance with the zoning codes. Second, it would have to be on a permanent foundation and built to BOCA standards. Third, the appraisal will appraise the property as a duplex or would need to find comparables that have two homes on one piece of land. Depending on where you live, this could be very difficult or even lower the value of your main residence.