An HDB flat application distinguishes between an applicant and an occupier, with substantial variations in legal legal rights and economical tasks. An applicant is usually a lawful proprietor in the flat, holds a share within the property, can use their CPF to finance the acquisition, which is a celebration for the housing mortgage. Conversely, an occupier is a relative stated in the appliance to kind the needed family nucleus to qualify for just a flat underneath an eligibility scheme. An occupier has no legal possession legal rights towards the flat, cannot use their CPF resources to finance the acquisition, and cannot certainly be a joint applicant for your bank loan, which may result in a lesser bank loan quantum primarily based entirely about the owner's money. An occupier is matter to read more the identical Minimum Profession Time period (MOP) given that the proprietor and should bodily reside inside the flat. This distinction is frequently a strategic choice for partners planning to buy a second non-public house in the future devoid of incurring Further Buyer's Stamp Obligation.