PHOTO: You will need to factor in other costs such as stamp duty which can vary from state to state. Picture: Getty.

Saving enough money for a home deposit is the holy grail for first-home buyers.

Often the culmination of years of squirrelling away every spare dollar you earn, reaching that target amount is no small achievement, particularly with house prices soaring in most Australian cities.

But in today’s market, how much do you really need? Do you need a full 20% deposit, or will lenders let you in the door with considerably less?

Here’s what you should know.