### Question
Can you define what residential mortgage means?


### Answer
**Residential mortgage** is defined as the following in *12 U.S.C. § 1451*:

> a mortgage which (1) is a mortgage on real estate, in fee simple or under a leasehold having such term as may be prescribed by the Corporation, upon which there is located a structure or structures designed in whole or in part for residential use, or which comprises or includes one or more condominium units or dwelling units (as defined by the Corporation) and (2) has such characteristics and meets such requirements as to amount, term, repayment provisions, number of families, status as a lien on such real estate, and otherwise, as may be prescribed by the Corporation

#### Citation:
  - *12 U.S.C. § 1451*
  - Heading: **CHAPTER 11A-FEDERAL HOME LOAN MORTGAGE CORPORATION**

