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Mortgage costs that are classified as recurring costs include:

  • Homeowners' insurance.
  • Property tax.

What is a recurring cost?

A recurring cost can be defined as a type of cost that occurs repeatedly or at regular interval of time during the life of an asset because they are required for operating a business. Some examples of mortgage costs that are classified as recurring costs include:

  • Homeowners' insurance.
  • Property tax.

On the other hand, nonrecurring cost do not occur repeatedly and they include the following:

  • Closing cost
  • Homeowners' association fee.
  • Home inspection
  • Prepaid interest

Read more on recurring costs here: https://brainly.com/question/1800105

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Answer:

Recurring Costs: Property Tax, Homeowners Insurance, Homeowners Association Fee

NonRecurring Costs: Closing Costs, Prepaid Interest, Home Inspection