Answers
Financing a Miami home from elsewhere
How to start from a distance, what changes if Miami is a new residence or a second home, and what to ask a lender.
Short answer
A lender will ask whether the home will be your main residence, a second home or an investment [1]. A lender or mortgage broker cannot require documents as a condition for giving you a Loan Estimate [2]. To get one, you need only your name, income, Social Security number, property address, estimated home value and the loan amount [2].
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Yes, in many cases. You do not have to live in Miami to start the process or to buy there.
A lender will ask whether the home will be your main residence, a second home or an investment, and will look at your income, savings and credit [1].
You can ask for a Loan Estimate before sending any documents [2].
On this page
01
Can I start before I move or visit?
Yes. The CFPB says a lender or mortgage broker cannot require you to provide any documents as a condition for giving you a Loan Estimate.
To get one you only need to provide your name, income, Social Security number, the property address, an estimate of the home's value and the loan amount [2].
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The CFPB describes shopping for a mortgage as requesting, reviewing and comparing Loan Estimates from multiple lenders to decide which loan and lender is right for you [4].
Nothing in that process requires you to be in Miami.
02
What if I am moving to Miami?
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Some programs are built around living in the home.
The VA purchase loan, for example, lists as a requirement that you will live in the home you are buying [6].
03
What if the Miami home is a second home or a rental?
A second home must be occupied by the borrower for some portion of the year, be a one-unit dwelling suitable for year-round occupancy, be under the borrower's exclusive control, and not be a rental property or timeshare [1].
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A property that is owned but not occupied by the borrower is an investment property [1].
If you plan to rent the home out, say so early so the lender can place it in the right category.
04
How do paperwork and closing work from a distance?
The documents lenders ask for do not depend on where you live.
The CFPB's list for a loan application packet includes a pay stub for the last 30 days, W-2 forms for the last two years, signed federal tax returns for the last two years, the two most recent bank statements, proof of identity and a Social Security number [3].
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Requirements vary by lender and by your situation, so ask what applies to you [3].
For signing, Florida law lets an online notary located in Florida notarize for a signer who is not in Florida, if the signer agrees to a Florida notary [5].
Your lender and title company decide whether that is used for your closing.
05
What are the steps if I do not live in Miami?
A general path, not a promise about any lender's process.
06
What should I have ready to start?
Questions
Frequently asked questions
Is Miami residency required to get a mortgage on a Miami home?
The occupancy categories in Fannie Mae's guide are based on how the borrower will use the home, not on where the borrower lives [1]. Your income, savings, credit and the property still matter, and each lender sets its own rules.
Sources: B2-1.1-01, Occupancy Types
Can I get a Loan Estimate before I send documents?
Yes. A lender or mortgage broker cannot require you to provide any documents as a condition for giving you a Loan Estimate. You only need to provide your name, income, Social Security number, the property address, an estimate of the home's value and the loan amount [2].
Sources: Can a lender make me provide documents like my W-2 or pay stub in order to give me a Loan Estimate?
Can I compare lenders if I am not in Miami?
Yes. The CFPB describes shopping for a mortgage as requesting, reviewing and comparing Loan Estimates from multiple lenders [4]. That can be done from anywhere.
Sources: Compare: shop for your mortgage
If I plan to move to Miami later, is it my principal residence?
Fannie Mae defines a principal residence as a property the borrower occupies as their primary residence [1]. The VA purchase loan requires that you will live in the home you are buying [6]. Explain your timeline to the lender, who decides how the home is classified.
Sources: B2-1.1-01, Occupancy Types; VA-backed purchase loan
Does the person arranging my loan need a Florida license?
Florida law prohibits acting as a mortgage broker or as a loan originator in the state without a current, active license issued by the Florida Office of Financial Regulation [7].
Sources: Florida Statutes s. 494.0025, Prohibited practices (2025)
Sources (7)
- B2-1.1-01, Occupancy Types. Fannie Mae Selling Guide. Accessed .
- Can a lender make me provide documents like my W-2 or pay stub in order to give me a Loan Estimate?. Consumer Financial Protection Bureau (CFPB). Accessed .
- Create a loan application packet. Consumer Financial Protection Bureau (CFPB). Gather your personal and financial information; What to know. Accessed .
- Compare: shop for your mortgage. Consumer Financial Protection Bureau (CFPB). Accessed .
- Florida Statutes s. 117.265, Online notarization procedures (2025). The Florida Senate. Subsections (1) and (3). Accessed .
- VA-backed purchase loan. U.S. Department of Veterans Affairs (VA). Requirements; what you can use the loan to do. Accessed .
- Florida Statutes s. 494.0025, Prohibited practices (2025). The Florida Senate. Subsections (1) and (2). Accessed .