An HDB flat application distinguishes between an applicant and an occupier, with substantial distinctions in legal rights and economical tasks. An applicant is usually a authorized proprietor from the flat, holds a share during the residence, can use their CPF to finance the acquisition, and is also a party to the housing personal loan. Conversely, an occupier is often a member of the family outlined in the application to variety the expected household nucleus to qualify for any flat under an eligibility plan. An occupier has no authorized ownership legal rights on the flat, can not use their CPF funds to finance the acquisition, and cannot be a joint applicant for your bank loan, which may more info bring about a more compact mortgage quantum centered only around the operator's cash flow. An occupier is topic to the same Minimum amount Occupation Period (MOP) as being the owner and will have to bodily reside within the flat. This difference is usually a strategic option for couples intending to purchase a next personal property Down the road with no incurring Extra Consumer's Stamp Duty.