I'm trying to calculate my exact after-tax income if I buy a house, to determine if I'll be house poor. To do so, I need to fully calculate my mortgage payment and tax/insurance, income tax, and the relevant tax deductions (SALT and Mortgage Interest). For the following slightly fictionalized numbers, could a kind soul help confirm whether I'm running the numbers correctly?

Income: 161000 per year, federal marginal tax rate is 24%

Property: 880000

Loan amount: 665000, 30 years

Interest rate: 5% (yes that's actually the rate I can get, I feel pretty lucky)

Mortgage monthly payment: $3571

Property Tax: 920/month

Insurance: 180/month

Total monthly payment: $4664

At my income, state tax for the year is roughly $10600.

So for SALT deduction I can deduct 10600+920*12 = 21640 (under SALT cap of $40000 now).

In my first year, the interest part of my mortgage payment is roughly $33000.

So for federal tax, compared to a single person standard deduction of $15800, I save (21640+33000-15800)*0.24 = 9321 for the first year?

For my state tax in California, I have a marginal tax rate of 9.3%, so compared to a standard deduction of 5540, I save (33000-5540)*0.093 = $2553? Since only mortgage interest gets deducted?

So my effective monthly payment, for the first year of home ownership is $4664-(9321+2553)/12 = $3674? That is, using my current salary and relative to my current (before house-buying) post-tax income.

Is all this (roughly) correct?