An HDB flat application distinguishes among an applicant and an occupier, with major discrepancies in lawful legal rights and fiscal duties. An applicant is actually a legal owner of your flat, retains a share from the residence, can use their CPF to finance the purchase, and it is a party into the housing financial loan. Conversely, an occupier is often a member of the family detailed in the application to variety the demanded relatives nucleus to qualify for the flat beneath an eligibility scheme. An occupier has no lawful ownership rights into the flat, are unable to use their CPF money to finance the purchase, and can't become a joint applicant to get a loan, which can cause a smaller personal loan quantum based mostly exclusively on the proprietor's revenue. An occupier is subject to a similar Least Occupation Interval (MOP) since the owner and will have to physically reside in the flat. This difference is usually a strategic option for couples intending to website buy a second non-public home Down the road devoid of incurring Further Buyer's Stamp Obligation.