Ardern did not give any further detail, except to say it was one of several options being considered by the Government to make housing more accessible.
It appears that if the scheme went ahead, it would be limited to people on a modest income, or first-home buyers.
"We have been exploring the options available there, whether or not you have some upfront equity taken on by a third party to ease some of the … cost for the first-home buyer," Ardern said.
She would not say whether the Government would secure the interest-free portion of the loan.
"We are exploring all of the options at the moment," she said.
Ardern said people on lower incomes had "no chance" at the moment at buying homes in Auckland while the average sale price was $1 million.
A shared equity scheme has previously been trialled by the Helen Clark-led Labour Government.