Maine to Florida Mortgage Checklist

You've picked Florida, and now there's a Maine house, a Florida house, and a pile of paperwork in between. Tick these boxes as you go, and send me anything you're unsure about.

What is on a Maine to Florida mortgage checklist?

Before you list in Maine

Most of the work starts before the sign goes up. These steps keep the Maine sale from slowing down the Florida purchase.

• Get a full preapproval for the Florida home before the Maine house goes on the market.
• Decide whether you'll sell, rent, or keep the Maine house. Each choice changes how a lender counts it.
• Tell your lender if Florida will be your primary residence or a second home. Standard primary residence paperwork expects you to move in within 60 days of closing and stay at least a year, unless the lender agrees otherwise.
• Budget for Maine's transfer tax: 2 dollars and 20 cents per 500 dollars of value, split between seller and buyer, plus 3 dollars and 80 cents per 500 dollars on value over 1 million dollars since Nov. 1, 2025.

Documents to gather

Lenders want the same basics whether you're buying in Bangor or Sarasota. If you work for yourself, expect a few more pages.

• Pay stubs covering the last 30 days.
• W-2s and signed federal tax returns, for up to two years depending on your income type.
• Your two most recent statements for each asset account.
• A paper trail for the down payment, plus a gift letter if family is helping.
• Photo ID and your Social Security number.
• Your Maine mortgage statement, property tax bill, and insurance bill.
• Extra income records if you're self employed or paid irregularly.

Before you make a Florida offer

In Florida, get an insurance quote before you fall for a house. The cost of coverage can change what payment you can carry.

• Get a homeowners insurance quote on the exact house, and ask about the hurricane deductible.
• Ask whether the insurer wants a 4 point inspection. Florida insurers commonly ask for one on older homes, covering the roof, plumbing, electrical, and heating and air.
• Ask for a wind mitigation inspection or the seller's report. Florida insurers must tell you about discounts for features that cut wind damage.
• Check the FEMA flood map. In a zone starting with A or V, the mortgage requires flood insurance.
• If private insurers say no, ask about Citizens Property Insurance, the state's insurer for homeowners who can't get private coverage.

If it's a Florida condo

With a condo, the lender looks at the building as well as you. My page on non warrantable condo loans in Florida goes deeper.

• Ask for the condo questionnaire, budget, reserve study, master insurance policy, board minutes, and any lawsuit details.
• For buildings three stories or taller, ask for the milestone inspection summary. Florida requires one by the end of the year the building turns 30, or 25 where local officials require it near salt water, then every 10 years.
• Ask for the structural integrity reserve study. Florida requires one at least every 10 years for those buildings, and its reserves can't be waived.
• Ask about any special assessment and what it pays for. Many conventional lenders look closely at assessments tied to major repairs, so tell your lender early.
• Ask your lender to check the building before you choose a unit.

The timing gap (buying before selling: bridge loan or HELOC)

Buying in Florida before the Maine house sells takes a plan for the overlap. My guide to buying in Florida before you sell in Maine with a bridge loan and my bridge loan vs HELOC comparison lay out the options.

• Ask your lender whether both housing payments will count. On many conventional loans they do until the Maine sale closes.
• If a HELOC is the plan, ask about opening it before the Maine house is listed.
• Money borrowed against the Maine house can fund the Florida down payment, and its payment counts as a debt.
• With a bridge loan, expect the lender to check that you can carry the Florida, Maine, and bridge payments together.

Keeping the Maine home as a rental

Keeping the Maine house as a rental is another path. If you'd rather qualify on the rent than your own income, see my page on DSCR loans for Maine rental properties, which covers 1 to 9 units but not mobile or manufactured homes.

• Ask how the Maine rent will count on your Florida loan. Rules differ by loan program, and your lender will check which apply.
• Ask before signing a lease, since programs treat leases on a home you're leaving differently.
• Get a market rent estimate and switch to a landlord insurance policy.
• Count your Maine days. Keeping a Maine home all year and spending more than 183 days there can keep you a Maine resident for income tax, so talk with a tax professional.

Closing and moving (Florida closing taxes, homestead, residency steps)

Florida's closing taxes show up at closing, and the residency steps continue after you get the keys. Check each one off as you go.

• Documentary stamp tax on the deed: 70 cents per 100 dollars of the price, except in Miami-Dade, which has its own schedule.
• Documentary stamp tax on the mortgage note: 35 cents per 100 dollars borrowed.
• Intangible tax on the mortgage: 2 mills, or 2 dollars per 1,000 dollars borrowed.
• Check your purchase contract for who pays which tax.
• Make Florida your permanent home by Jan. 1 and file for homestead with the county property appraiser by March 1. It can take up to about 50,000 dollars off your assessed value.
• Save Our Homes then caps yearly assessed value increases at 3 cents on the dollar or the change in the Consumer Price Index, whichever is less.
• Drop the Maine homestead exemption. You can't keep it on the Maine house once Florida is home.
• If voters approve Amendment 3 on Nov. 3, 2026, the exemption rules change. Ask your county property appraiser.
• Get a Florida driver license. The state motor vehicle agency says within 30 days of establishing residency, so check how that applies to you.
• Title and register your car, register to vote in your county, and consider filing a declaration of domicile with the county clerk of court.

FAQ

Can I use a HELOC on my Maine house for a down payment in Florida?

Yes, you can usually use a HELOC on your Maine house for the down payment on a Florida mortgage. Fannie Mae and FHA guidelines both accept money borrowed against real estate you own, and the HELOC payment counts as a debt when your lender qualifies you.

How soon do I have to move into my Florida house after closing?

On a Florida mortgage for a primary residence, you're generally expected to move in within 60 days of closing and live there for at least a year. That occupancy language appears in the FHA handbook and in the standard Fannie Mae and Freddie Mac mortgage form, with room for the lender to agree to exceptions.

Does Florida charge tax on a new mortgage?

Yes, a new Florida mortgage carries two state taxes at closing: documentary stamp tax on the note and the nonrecurring intangible tax. Florida statutes and the Department of Revenue set the stamp tax at 35 cents per 100 dollars borrowed and the intangible tax at 2 mills, or 2 dollars per 1,000 dollars.

Can I keep my Maine homestead exemption if I buy a house in Florida?

No, you can't keep the Maine homestead exemption on your Maine house and also claim Florida homestead on the home your Florida mortgage buys. Florida law denies homestead to anyone receiving a residency based exemption in another state, and Maine's exemption requires you to be a permanent Maine resident.

Do I need flood insurance for a mortgage in Florida?

A Florida mortgage requires flood insurance when the home sits in a FEMA special flood hazard area. Federal flood insurance rules and Fannie Mae guidelines treat any flood zone starting with A or V as one of those areas.

Can I rent out my Maine house and still get a Florida mortgage?

Yes, you can often rent out your Maine house and still get a Florida mortgage, but how the rent counts depends on the loan program. Fannie Mae and FHA each have written rules for rent from a home you're moving out of, and they don't match, so your lender will check which ones apply.

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If you're planning a Maine to Florida move and want a second set of eyes on your checklist, call or text me at (207) 615-7770.

Residential home loans in Maine and Florida. DSCR loans in 37 states.

Started in 2004 and I'm still here.