I think it's doable. With the $$ down, you are taking out an $800k mortgage. When we moved into our home $750k my DH's salary was only $160k and we made it on his salary alone as I was on bedrest and only collecting 60% of my income. then I SAHM and we really had to tighten our belt a little, but still took vacations, etc.

Anonymous wrote:Your kids are very young, but as they get older, your expenses will increase significantly...especially if you are living in a million dollar hood.

Clothing and shoes
Camp
Activities (dance, sports (I have four boys, and we spend a small fortune on sports)
Parties
haircuts
iPads, phones

braces
movies
sports equipment
replacing things they've broken
ski weekends

Anonymous wrote:I know federal jobs are secure, blah blah blah, BUT assuming one of you lost your job for some reason, how quickly could you replace it?

We have a 400k house on a 250k income for this reason - I'm not confident in how quickly I could replicate my income. if it were lost for any reason.

You are far more shrewd than the OP. That's the point. She can't afford the house she wants.

Your kids are very young, but as they get older, your expenses will increase significantly...especially if you are living in a million dollar hood.

Clothing and shoes
Camp
Activities (dance, sports (I have four boys, and we spend a small fortune on sports)
Parties
haircuts
iPads, phones

I know federal jobs are secure, blah blah blah, BUT assuming one of you lost your job for some reason, how quickly could you replace it?

We have a 400k house on a 250k income for this reason - I'm not confident in how quickly I could replicate my income. if it were lost for any reason.

Anonymous wrote:

OP and spouse may work for one of the financial services agencies (SEC, CFPB, CFTC) that has a bump in the GS scale. I can't believe how hostile some posters are!

No one has been hostile at all. It's reasonble to ask the question. OP and her DH are too young for high salaried SEC, CPFB, CFTC jobs. Those are for people worth tons to the industries they regulate, not 33 year-olds who generally haven't found their noses with their elbows, yet.

It is reasonable to ask, but some posters were basically accusing them of stealing/ fraud (eg "buddy system")

Patent examiners, perhaps.

NIH scientists are not GS employees.

They could be scientists at NIH. I would NOT personally borrow from my retirement savings to afford a down payment on a million dollar home but I am conservative. How close in?

OP and spouse may work for one of the financial services agencies (SEC, CFPB, CFTC) that has a bump in the GS scale. I can't believe how hostile some posters are!

No one has been hostile at all. It's reasonble to ask the question. OP and her DH are too young for high salaried SEC, CPFB, CFTC jobs. Those are for people worth tons to the industries they regulate, not 33 year-olds who generally haven't found their noses with their elbows, yet.

Extroardinary circumstance, or outrageous example of Buddy System abuse. Not typicial, sorry.

BTW, OP says she and DH are GS-14's, not 15's.

OP and spouse may work for one of the financial services agencies (SEC, CFPB, CFTC) that has a bump in the GS scale. I can't believe how hostile some posters are!

Some agencies are paid based on a 50-hour work week and are paid accordingly.

BS. Everyone is paid according to the General Schedule, available at OPM.gov Overtime is sometimes authorized, but is paid in straight time, not time and a half, for professionals.

OP, I think you can afford it in the long term, but you have to decide if the tight cash flow for the next few years is worth buying now.

We have a similar HHI and $3500/month mortgage. When we had two in daycare, we couldn't have afforded it. (We could, but it would have been cutting it too close for my comfort.) But now we only have to pay preschool for one ($1000/mo). Other expenses are about $3000/mo including everything. That still leaves $3-4k/mo (not counting 401k contributions) which is a very comfortable margin.

Not OP, but DH is a 34-year-old GS15 who is maxed out at $155k.

Extroardinary circumstance, or outrageous example of Buddy System abuse. Not typicial, sorry.