An HDB flat application distinguishes amongst an applicant and an occupier, with significant variations in legal rights and financial responsibilities. An applicant is really a legal operator of your flat, retains a share during the assets, can use their CPF to finance the acquisition, which is a celebration for the housing mortgage. Conversely, an occupier is really a family member listed in the applying to variety the expected relatives nucleus to qualify for your flat beneath an eligibility scheme. An occupier has no legal possession rights towards the flat, can't use their CPF resources to finance the acquisition, and cannot be considered a joint applicant for a personal loan, which can lead to a smaller personal loan quantum dependent exclusively around the operator's profits. An occupier is matter to the identical Minimum Profession Period of time (MOP) because the operator and ought to physically reside in the flat. This difference is usually a strategic option for partners planning to buy a second non-public residence Later on without incurring click here More Purchaser's Stamp Duty.