On $8000 net take-home pay household budget:
Fill in the blanks
$2500 a month student loans
+$1500 Mortgage payment
+$400 PITI
+$500 Food
+$300 Utility/Garbage
+$70 Verizon Family Plan (Unlimited calls)
+$350 Gas
+$100 car maintenance
+$250 car insurance
+$150 entertainment
+$200 vacation
+$180 cable/internet
+$150 Clothing Allowance
+$450 car loans ($25K new purchase)
+ Term Insurance/Disability
+ Retirement Contributions + IRA (Pre & Post tax contributions)
+ Credit Payments (if any)
+ Raising a baby (Priceless) NOT!
Estimated cost $7100 monthly expenses. Of course, I don't know how you all live your life. But this gives you an idea. You should develop a budget first see if you can afford having a mortgage with your student loan.
If you do, try owning a condo first below $150K or perhaps renting for the next few years until you solidify your finances. However, it is scary owning a home with all those expenses when one create a budget. Then they realize how much they don't have or are living paycheck to paycheck. Here's another option, postpone owning a house, until you payoff all your student loans. That's really your biggest hurdle financially that you cannot overlook and must overcome IMO. Good luck
