Most home loan repayments include a portion of the home loan principal as well as interest charges. In the early years of a home loan term, interest charges will account for the bulk of the repayment. But the ratio of principal to interest changes as the home loan amount is gradually reduced, so that in the final years the home loan principal accounts for a larger share of the repayments. Interest-only home loans are an exception. In this case, the repayments only cover the interest charges and the home loan principal does not reduce, either during the entire home loan term or for an agreed number of interest-only years at the beginning of the term.