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Date: January 15, 2023
There is zero reason to buy a 1.5 million dollar house as your first home. Especially at current interest rates. Even with a 300k or 450k mortgage, that is still 1.05 to 1.2 million borrowed from the bank.
The fact that you each saved 150k is impressive. Many people have partners who are unable to save that much over a lifetime and they still make it work.
Your problem seems to he that your partner misled you about the money, which is valid. And it should also go without saying not to buy a house with anyone that you aren't married to.
Hiw does his brother simply have $150k laying around not invested? Does his brother not have his own financial goals? What kind of repayment schedule would there be? Interest rate? Or would the brother have equity in the house instead?
At a minimum, you need to be part of the conversation with his brother. If you aren't close with his brother then don't borrow money from him.
A 1.5 million dollar house could easily drop 33% in value, leaving you underwater.
Why not buy a $1 million house with a $300k down payment? You are already stressed about the costs of a 1.5 million dollar house. Mortgage interest, property taxes, utilities, home insurance maintenance, etc. are all unrecoverable costs that increase significantly (exponentially) with the size of a house. If you want to have kids in the next 5 years then buy a 3br townhouse instead. (Just make sure you are buying something that you could live! in for 10+ years in the event house prices drop).