### Question
Can you define what qualified loan means?


### Answer
**Qualified loan** is defined as the following in *12 U.S.C. § 2279aa*:

> an obligation—


(A)(i) that is secured by a fee-simple or leasehold mortgage with status as a first lien, on agricultural real estate located in the United States that is not subject to any legal or equitable claims deriving from a preceding fee-simple or leasehold mortgage

#### Citation:
  - *12 U.S.C. § 2279aa*
  - Heading: **CHAPTER 22-TYING ARRANGEMENTS > SUBCHAPTER VIII-AGRICULTURAL MORTGAGE SECONDARY MARKET**

