24 CFR § 242.6 - Property requirements.

---
identifier: "/us/cfr/t24/s242.6"
source: "ecfr"
legal_status: "authoritative_unofficial"
title: "24 CFR § 242.6 - Property requirements."
title_number: 24
title_name: "Housing and Urban Development"
section_number: "242.6"
section_name: "Property requirements."
chapter_name: "OFFICE OF ASSISTANT SECRETARY FOR HOUSING—FEDERAL HOUSING COMMISSIONER, DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT"
subchapter_number: "B"
subchapter_name: "MORTGAGE AND LOAN INSURANCE PROGRAMS UNDER NATIONAL HOUSING ACT AND OTHER AUTHORITIES"
part_number: "242"
part_name: "MORTGAGE INSURANCE FOR HOSPITALS"
positive_law: false
currency: "2026-04-05"
last_updated: "2026-04-05"
format_version: "1.1.0"
generator: "[email protected]"
authority: "12 U.S.C. 1709, 1710, 1715b, 1715n(f), and 1715u; 42 U.S.C. 3535(d)."
regulatory_source: "72 FR 67546, Nov. 28, 2007, unless otherwise noted."
cfr_part: "242"
---


# 242.6 Property requirements.

The mortgage, to be eligible for insurance, shall be on property located in a state, as defined in § 242.1. The mortgage shall cover real estate in which the mortgagor has one of the following interests:

(a) A fee simple title;

(b) A lease for not less than 99 years that is renewable; or

(c) A lease having a term of not less than 50 years to run from the date the mortgage is executed.