HAP Contract
An agreement providing a HUDHUDU.S. Department of Housing and Urban Development Section 8 rental subsidy for the PropertyPropertyMultifamily residential real estate securing the Mortgage Loan, including the fee simple or Leasehold interest, Improvements, and personal property (per the Uniform Commercial Code). in the form of a:
- project-based voucher contract (PBV), or
- project-based rental assistance contract (PBRA).
Synonyms
Housing Assistance Payment
HAP
HAP Contracts