An HDB flat application distinguishes involving an applicant and an occupier, with sizeable dissimilarities in lawful legal rights and fiscal duties. An applicant is actually a legal operator with the flat, retains a share inside the home, can use their CPF to finance the acquisition, which is a celebration towards the housing loan. Conversely, an occupier is usually a loved one shown in the application to form the demanded relatives nucleus to qualify for any flat below 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 end in a smaller sized loan quantum dependent exclusively on the operator's revenue. An occupier is subject to a similar Bare minimum Occupation Period of time (MOP) since the operator and have to check here physically reside during the flat. This distinction is commonly a strategic option for couples intending to purchase a 2nd private residence Later on without incurring Added Buyer's Stamp Responsibility.