If your mom also fills out a FAFSA and also attends school then it can affect your aid. However, it will most likely affect you in a good way. Having 2 people in college (you and your mom) will lower your EFC and make you eligible for more aid.
It doesn't matter if you live with her or not. As long as you're a dependent student you will be considered part of her household even if you aren't living there.