Moving From New Jersey to Florida: Mortgage, Occupancy and Homestead Basics

If I am moving to Florida, when is the new home my principal residence?

Fannie Mae's Selling Guide defines a principal residence as a property the borrower occupies as their primary residence ^[3]. Someone who sells or leaves a New Jersey home and moves into the Florida one fits that description once they actually live there. Someone who keeps living in New Jersey and visits Florida is describing a different occupancy type, and the answer for the lender changes with it.

The honest answer depends on the timing of your move, which we talk through before choosing a program. Occupancy statements on a loan application are representations you make to the lender, so describe the plan you actually have.

How does New Jersey decide whether I am a resident?

The 2025 NJ-1040NR instructions include a "Which Form to File" chart. Read as the instructions present it, the chart sends you to Form NJ-1040 (the resident return) in four cases: (1) New Jersey was your domicile for any part of the year and you maintained a permanent home in New Jersey; or (2) New Jersey was your domicile for any part of the year, you did not maintain a permanent home in New Jersey, and you did not maintain a permanent home outside New Jersey; or (3) New Jersey was your domicile for any part of the year, you maintained a permanent home outside New Jersey but not in New Jersey, and you spent more than 30 days in New Jersey; or (4) New Jersey was not your domicile, but you maintained a permanent home in New Jersey for any part of the year and spent more than 183 days in the state ^[7]. The other branches of the chart lead to Form NJ-1040NR, the nonresident return, for people who had New Jersey-source income (for example, a domicile in New Jersey with a home only outside the state and 30 days or fewer in New Jersey, or no New Jersey domicile and either no permanent New Jersey home or 183 days or fewer in the state) ^[7].

The instructions define domicile as the place you consider your permanent home, the place you intend to return to after a period of absence, and say you have only one domicile ^[7]. A home is not permanent if you maintain it only for a temporary period to accomplish a particular purpose, and a home used only for vacations is not a permanent home ^[7].

We are not tax advisers. The chart turns on your intent and on where your permanent home is, so have a tax professional review your facts before you buy, not after.

What if I leave New Jersey partway through the year?

Your domicile does not change until you move to a new location with the intent to establish your permanent home there and to abandon your New Jersey domicile, and moving elsewhere, even for a long time, does not change it if you intend to return to New Jersey ^[7].

The instructions say there is no part-year resident return. You may have to file both Form NJ-1040, to report income received for the part of the year you were a resident, and Form NJ-1040NR, if you had New Jersey-source income for the part of the year you were a nonresident ^[7]. Which filings apply to you is a question for a tax professional.

When does Florida's homestead exemption start for someone relocating?

Article VII, section 6 of Florida's Constitution applies to a person with legal or equitable title who maintains on the property the permanent residence of the owner or of someone legally or naturally dependent on the owner ^[4]. Florida Statutes section 196.031 ties the exemption to the person holding title on January 1 and in good faith making the property their permanent residence ^[5].

Because of that January 1 reference, the date you close and move in relative to January 1 is worth raising with the county property appraiser where the home is located, who receives applications ^[6]. The Department of Revenue says the exemption applies when an owner makes the property their permanent residence or that of a dependent ^[6]. We do not calculate taxes or exemption amounts on this site.

What should a New Jersey buyer settle before applying?

Write down your intended move date, whether you will keep a New Jersey home, and how many days you expect to spend in each state, because those facts drive occupancy for the lender ^[3] and the questions in the New Jersey chart ^[7].

If you have no Social Security number, other loan paths exist for buyers who do not fit an agency profile. Use the questions below, then contact us. Nothing on this page is a commitment to lend.