Congratulations on buying a house. I guess I am in the minority here but it sounds to me like you can afford it. Mostly because if your spouse does take the pay cut for the federal job, he will have both job security and a defined benefit pension in the future. And because your spouse works in a high paying field, the pension will be ample so you'll need less in savings to FIRE. You will have rental income to offset housing expenses, and it seems to me that $1800 should cover more than half of your mortgage at today's rates. Of course shit happens: job loss, decline in home value, etc. If so, you react. But there is a really positive side to owning a home as well, including having a stable, safe place to raise kids, if that's what you're planning. Being a landlord may not always be enjoyable, but it sure beats being at the mercy of your landlord when you disagree over what really needs fixing (at least that's my experience having just been a renter for a year after 22+ years of owning).