The insured mortgage must be on real property held in one of two forms of estate:
1. A fee simple estate, or
2. A lease with a term of at least (i) ninety-nine years which is renewable, (ii) 50 years from the date the
mortgage is executed, or (iii) for a period of not less than 10 years more than the loan maturity date,
dependent upon the Section of Act (SOA).