Debt-to-Income (DTI) Ratio: Lenders typically look for a DTI ratio (monthly debt payments divided by gross monthly income) of around 43% or less, though this can vary by lender and loan type.
Monthly Payment Estimate: For a $1.5 million house with a standard 20% down payment ($300k), you would finance $1.2 million. Your total monthly payment (principal, interest, taxes, and insurance - PITI) could be substantial.