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Will you get approved, probably. Should you do it? Absolutely not.
Agreed. If this is really your first house, go for something nice but modest. There are so many costs associated with home ownership. When we bought our first house (a beautiful 1912 craftsman), it was less than a year before we had to have a whole water main replaced. Plus redoing the driveway. And adding a second HVAC system...
For what it’s worth we make $250k combined too and are buying a place for $730k and it feels a little tight 😅 (nyc)
Monthly pre-tax of $250k? I think you can afford $1m of house on a $3m income. Assuming typo though lol