Gross monthly income is 11,000 (before 401k, insurance, etc). No debt and preapproved for 3.9%. How much can we realistically get?

The quick cheating answer to this question is that most people can qualify for about 4 times their yearly income. The real answer is that you need to complete a full application and let a lender review your personal situation. For loans in WI, MN, and SD, visit me at www.WI-MortgageBroker.com

That income would qualify for more than the conventional limits I believe. You may either have to have a large down payment, or possibly consider a jumbo loan. Like Joe says, the best thing to do is sit down with a local mortgage loan originator.