The move would coincide with the growth of county council mortgages - aimed at low-income buyers.
Officials are said to be assessing the merits of an equity loan scheme, where small mortgage loans would be topped-up by the government.
This would stimulate the number of potential buyers in the ailing housing market.
In the agreement, the government would hold a stake in the property until the 'top-up' loan was repaid.
The scheme would be aimed at low to medium income groups - providing support to those having difficultly securing credit.
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This system would offer an alternative to the current shared ownership scheme, where the local authority attains at least 40% of the house.
Commentators have suggested a 'top-up' deal would, for example, see the buyer of a €250,000 house take out a €175,000 bank mortgage, with the remaining €75,000 lent by the government.
By stumping up 30% of the capital for the homes the state would then gain a 30% stake in the property, until the loan is paid-off.
Similar scheme have previously worked in Northern Ireland and the UK.
There is reluctance by lender to offer high-percentage mortgages in the current economic climate.
This is in stark contrast to the housing market 'boom' two years ago, when many banks offered-up 100% mortgage loans to potential buyers.
As a result, the turnover of mortgage agreement has fallen dramatically, and with stricter credit controls and fewer affordable mortgage packages available, many first-time buyers are finding themselves shutout from the market.
According to government sources, details of the proposed 'top-up' scheme are still to be finalised.
Should the equity loans scheme get the go-ahead, it would be expected to appear in the next Budget.
(PR/JM)
