Which of the following characteristics defines a consumer home loan?

A consumer home loan is primarily defined by its purpose and characteristics, one of which is that it must be secured by a mortgage on a single-family dwelling. This means that the loan is specifically designed for individuals (consumers) looking to purchase or refinance their primary residence. This feature emphasizes the focus on residential properties, making it distinct from investor loans or commercial loans.

The option stating that the borrower must be a corporation is incorrect because consumer home loans are intended for individual borrowers rather than business entities. The aspect of the debt being for investment purposes is also not aligned with consumer home loans, which are specifically aimed at supporting homeownership for personal use rather than for generating income or profit. Lastly, the requirement that the loan amount must exceed the conforming loan limit does not define a consumer home loan but rather relates to the categorization of loans as conforming or non-conforming based on their amounts. In contrast, the defining characteristic of being secured by a mortgage on a single-family dwelling accurately captures the essence of consumer home loans.