The Central Bank is scheduled to announce revisions to the mortgage lending rules on Wednesday.
People can currently borrow just three and a half times their salary. There are also strict requirements when it comes to deposits required to secure a property.
The stringent criteria have been criticised for keeping numerous potential purchasers out of the home market. However, there are fears that any softening may put more upward pressure on property prices, which are already close to record highs.
According to reports, the new rules might raise the existing loan-to-income ceiling to four times wages, in line with lending limitations in other nations.
There are also conflicting reports on whether the Central Bank will revise the present deposit restrictions, which demand a 10% deposit for first-time purchasers and a 20% deposit for second-time buyers.
Some borrowers are exempt from the guidelines, although the limits have been in place for seven years.
For over a year, the Central Bank has been undertaking a mortgage framework review, working with homebuyers and people in the industry. Bankers have long claimed that the limitations are too stringent and must be relaxed.