An HDB flat software distinguishes amongst an applicant and an occupier, with substantial discrepancies in lawful legal rights and monetary duties. An applicant can be a authorized proprietor with the flat, retains a share from the residence, can use their CPF to finance the acquisition, which is a party for the housing mortgage. Conversely, an occupier is really a family member listed in the applying to sort the necessary loved ones nucleus to qualify for a flat less than an eligibility scheme. An occupier has no lawful ownership legal rights on the flat, can't use their CPF resources to finance the purchase, and can't be a joint applicant for your mortgage, which can result in a more compact personal loan quantum primarily based only on the owner's profits. An occupier is issue to the identical Least Profession Period (MOP) because the proprietor and have to website bodily reside from the flat. This difference is commonly a strategic option for partners intending to purchase a 2nd personal home Later on with no incurring Added Purchaser's Stamp Duty.