7) Bank and Other Loans Payable: Summary of Bank Loans Payable (Tables)

12 Months Ended

Dec. 31, 2018

Tables/Schedules

Summary of Bank Loans Payable

	December 31
	2018	2017
6.50% note payable in monthly installments of $1,702 including principal and interest, collateralized by real property, paid in full in February 2018.	$               -	$       246,847
3.85% fixed note payable in monthly installments of $85,419 including principal and interest, collateralized by shares of Security National Life Insurance Company stock, paid in full in January 2018.	-	85,419
2.25% above 90 day LIBOR rate note payable in monthly installments of  approximately $125,000, collateralized by real property, paid in full in March 2018.	-	26,773,058
2.25% above the monthly LIBOR rate plus 1/16th of the monthly LIBOR rate note payable in monthly principal payments of $13,167 plus interest, collateralized by real property with a book value of approximately $4,350,000, due September 2021.	2,817,775	2,975,781
4.27% fixed note payable in monthly installments of $53,881 including principal and interest, collateralized by shares of Security National Life Insurance Company stock, due November 2021.	1,817,905	2,372,690
4.40% fixed note payable in monthly installments of $46,825 including principal and interest, collateralized by real property with a book value of approximately $12,479,000, due January 2026.	7,492,140	7,712,854
4.329% fixed note payable in monthly installments of $9,775 including principal and interest, collateralized by real property with a book value of approximately $3,596,000, due September 2025.	1,929,725	1,961,573
2.5% above the monthly LIBOR rate plus 1/16th of the monthly LIBOR rate construction loan payable, collateralized by real property with a book value of approximately $46,093,000, due August 2019.	30,796,861	28,343,684
4.7865% fixed interest only note payable in monthly installments, collateralized by real property with a book value of approximately $18,362,000, due June 2028.	9,200,000	-
1 month LIBOR rate plus 3% loan purchase agreement with a warehouse line availability of $100,000,000, matures June 2019.	60,438,156	61,298,220
1 month LIBOR rate plus 3% loan purchase agreement with a warehouse line availability of $100,000,000, matures September 2019.	25,680,649	25,538,378
Other short-term borrowings (1)	47,250,000	-
Other loans payable	97,977	142,421
Total bank and other loans	187,521,188	157,450,925
Less current installments	165,219,632	88,437,940
Bank and other loans, excluding current installments	$   22,301,556	$  69,012,985
(1) Federal Home Loan Bank and Revolving Lines of Credit