; (B) a leasehold on real estate under a lease for not less than ninety-nine years which is renewable; or (C) a fee interest in, or long-term leasehold interest in, real estate consisting of a one-family unit in a multifamily project, including a project in which the dwelling units are attached, or are manufactured housing units, semi-detached, or detached, and an undivided interest in the common areas and facilities which serve the project. (7) Qualified homebuyer The term qualified homebuyer means a homebuyer— (A) having an annual household income that is less than or equal to— (i) 120 percent of median income, as determined by the Secretary, for— (I) the area in which the home to be acquired using such assistance is located; or (II) the area in which the place of residence of the homebuyer is located; or (ii) 140 percent of the median income, as determined by the Secretary, for the area within which the eligible home to be acquired using such assistance is located if the homebuyer is acquiring an eligible home located in a high-cost area; (B) who is a first-time homebuyer, as such term is defined in section 104 of the Cranston-Gonzalez National Affordable Housing Act ( 42 U.S.C. 12704 ), except that for the purposes of this section the reference in such section 104 to title II shall be considered to refer to this section, and except that ownership of heir property shall not be treated as owning a home for purposes of determining whether a borrower qualifies as a first-time homebuyer