Total monthly cost is less than $4000. You need a secure job.

I did calc for you using Yahoo's mortgage calculator. Including property tax, hazard insurance and mortgage payment, you have to pay $3927/month totally. As long as your job is secure, you should be fine. I am using the following numbers (provided by you).

Loan amount 540000

Annual interest rate 5.8750%

Number of months: (30yrs=360) 360

Monthly principal and interest payment $3,194.30

Monthly property taxes $683.33

Monthly hazard insurance $50.00

Monthly PMI (if applicable) $0.00

Total monthly payment (including taxes, insurance, and PMI) $3,927.64