My last two children were born at home, but we had a lay midwife and her assistant there, just in case. My midwife did all of my prenatal checkups at my home, we had the baby, and all postnatal checkups were done at home, as well. I utilized my right to refuse the majority of prenatal testing, and carried each of the babies to term with nothing more than monthly [weekly] checks for the heartbeat, my blood pressure & weight, and a few blood draws.
I know a lot about birth, and had 5 full term healthy pregnancies (1 hospital, 2 birthing center, 2 home), but I would not be comfortable suggesting anyone homebirth without a midwife and transport plan (if necessary). Even in the most low-risk birth on the planet, there are a lot of unknowns... my third had a cord around her neck THREE times, and the midwife had to do an uncommon German obstetric maneuver to prevent her from strangling as she was born. I didn't like some of the decisions the midwife made during my labor, but am thankful she was there for the birth (when it counted).
I'm going to second CutieMouse on this one and recommend you have someone who is a trained midwife and not emotionally attached to you there for the birth. People react differently during times of stress and labor/delivery is certainly stressful. Unless he's caught his own kid before, I wouldn't trust your master alone to handle something that critical without backup.
The danger isn't only to the baby but to you as well- can he spot a life threatening complication and treat it effectively? Even if he's a paramedic, he isn't specifically trained for that level of care. I can think of no good reason to risk your life and the life of your child at risk. A desire of the intimacy of the occasion seems rather selfish to me in this context.
Get a good midwife to help out so there's another pair of hands, find one that will work with your desires to have him catch and act more as a coach. Most successful midwives don't get to be that way by being callous and unwilling to listen.
I'm not saying this to downplay any education or experiances the two have between you. If you want a home birth, go for it, more power to you. If you want him to catch, knock your socks off. But please, if only for CYOA purposes have a trained professional on hand.
Welcome to Literotica! It's super cool to see a fellow Washingtonian on here. I hope you have a happy and healthy pregnancy and that the birth goes just as you and your Master want it to go. I also hope that, if things do not go according to plan or if things fail to meet your expectations, that you won't be too disappointed. Many women are traumatized when that happens and it's unfortunate.