An HDB flat application distinguishes in between an applicant and an occupier, with considerable distinctions in legal rights and financial tasks. An applicant is usually a lawful proprietor from the flat, holds a share during the assets, can use their CPF to finance the acquisition, and is also a party into the housing financial loan. Conversely, an occupier is often a member of the family detailed in the application to form the demanded relatives nucleus to qualify for the flat beneath an eligibility scheme. An occupier has no legal possession here 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 bring about a more compact mortgage quantum centered only within the operator's cash flow. An occupier is topic to exactly the same Minimum amount Profession Period (MOP) given that the proprietor and must bodily reside inside the flat. This difference is frequently a strategic choice for partners planning to buy a second non-public home Down the road with no incurring Extra Consumer's Stamp Obligation.