View all text of Subpart E [§ 266.400 - § 266.420]
§ 266.400 - Property requirements—real estate.
The mortgage must be on real estate held:
(a) In fee simple;
(b) Under a renewable lease of not less than 99 years; or
(c) Under a lease executed by a governmental agency, or other lessor approved by the HFA, that has a term at least 10 years beyond the end of the mortgage term.