An eligible residence: Shall be the primary residence of the borrower; Shall be a single family dwelling unit located in the State, including a townhouse or condominium; Shall be real property owned by the borrower in fee simple or under a freely transferable, perpetually renewable, ground lease which permits the lessee to transfer the leasehold interest without the consent of the lessor; May not be a cooperative or mobile home, which is treated as personalty for the purposes of establishing a security interest. A manufactured housing unit may be an eligible residence if it: Is intended for residential use by a single household; Is a multisectional structure fabricated after June 14, 1976, in an off-site manufacturing facility for installation or assembly at the building site; Is not less than 24 feet in width and 40 feet in length; Is installed permanently on an engineered foundation in conformance with the BOCA National Building Code (1987), which is incorporated by reference under COMAR 05.02.02,and is not independently capable of movement; Has brick, wood, aluminum, or cosmetically equivalent exterior siding and a pitched composition shingle or wood shake roof; Is certified by the United States Department of Housing and Urban Development as a manufactured home in accordance with the National Manufactured Housing Construction and Safety Standards Act of 1974, as amended, or by the Department as an industrialized building in accordance with Public Safety Article, §12-308, Annotated Code of Maryland, and complies with all requirements set forth in COMAR 05.02.04; Is installed on real property the borrower owns in fee simple or under a freely transferable ground rent lease, and the legal title to the improvements runs with the real property; Meets all applicable zoning requirements as to number of dwelling units, lot size, and building setbacks; and Is reasonably expected to have an economic life equal to or greater than the term of the mortgage. An eligible residence may not be encumbered by: More than two other mortgage liens which collectively may secure a remaining mortgage debt of not more than 95 percent of the current value of the eligible residence, as determined by the Program; A mortgage lien that secures a line of credit loan; or Other liens, including a tax lien.