Mortgage brokers suggest getting a pre-approval first, setting a price limit and structuring the mortgage to suit needs.
"I think most of the investors and the first home-buyers are in a 'wait and see' pattern."
The number of borrowers in financial hardship reached 11,900 in April.
First-home buyers can borrow with a 5 percent deposit.
New builds are exempt from loan-to-value ratio (LVR) restrictions.
Mortgage rate options for new borrowers and those with fixed interest rates about to expire.
Subject to final consultation, LVR limits will restrict high-risk lending, particularly to property investors
Latest Reserve Bank figures show mortgage lending is up 32.8 percent on last year.
How a 6-month holiday on a $600,000 loan could cost up to $6000 more.