The initiative is being launched today by Stormont Housing Minister Margaret Ritchie, who has earmarked affordable homes as a key plank in her New Housing Agenda.
The scheme, which is British government backed, aims to make more affordable homes available to first-time buyers and is being piloted in Portadown in Co Armagh.
127 homes, consisting of 24 detached and 103 semi-detached houses, are up for sale with prices starting at £145,000 (€178,525).
Under the scheme, buyers will be able to purchase 50% of the value of the house, with private developers and housing associations shouldering the other half of the cost.
Barclays Bank is offering buyers a 100% mortgage to fund their half of the purchase, and the homeowner will also have the option of buying a greater share in the property from the developer and the housing associations if they wish.
