I wasn't anywhere near that. I had 3-6 months in emergency $ and I put down about 10%. In the end though, it was the best financial decision I've made. Locked in a 3.5% rate and my house has increased in value by 130k.
Lots of factors to consider though. There's not one answer for everyone. Depends on where you buy your home, how desireable your neighborhood is, location, etc.