An HDB flat software distinguishes among an applicant and an occupier, with important variances in authorized rights and monetary responsibilities. An applicant is a lawful proprietor on the flat, holds a share in the assets, can use their CPF to finance the acquisition, and is also a party to the housing personal loan. Conversely, an occupier is often a loved one detailed in the application to variety the expected household nucleus to qualify for any flat beneath an eligibility scheme. An occupier has no lawful ownership rights into the flat, are not able to use their CPF money to finance the acquisition, and more info can't be considered a joint applicant for a financial loan, which may result in a scaled-down bank loan quantum based entirely about the owner's profits. An occupier is matter to exactly the same Minimum amount Profession Period (MOP) given that the proprietor and must bodily reside inside the flat. This difference is usually a strategic choice for partners planning to buy a second personal home Down the road with no incurring Extra Customer's Stamp Duty.