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7) Bank and Other Loans Payable: Summary of Bank Loans Payable (Tables) | 12 Months Ended
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Dec. 31, 2019
Tables/Schedules |
Summary of Bank Loans Payable |
|  | December 31
|  | 2019 |  | 2018
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 $4,244,000, due September 2021. |  | $ 2,659,769 |  | $ 2,817,775
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 December 2021. |  | 1,238,619 |  | 1,817,905
Prime rate note payable in monthly installments of $75,108 including principal and interest, collateralized by shares of Security National Life Insurance Company stock, due December 2024. |  | 4,000,000 |  | -
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 $12,923,000, due January 2026. |  | 7,247,651 |  | 7,492,140
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 $3,261,000, due September 2025. |  | 1,896,450 |  | 1,929,725
2.5% above the monthly LIBOR rate plus 1/16th of the monthly LIBOR rate construction loan payable in monthly principal payments of $113,000 plus interest, collateralized by real property with a book value of approximately $49,378,000, due August 2020. |  | 33,811,559 |  | 30,796,861
4.7865% fixed interest only note payable in monthly installments, collateralized by real property with a book value of approximately $18,009,000, due June 2028. |  | 9,200,000 |  | 9,200,000
1 month LIBOR rate plus 3% loan purchase agreement with a warehouse line availability of $100,000,000, matures June 2020. |  | 88,509,536 |  | 60,438,156
1 month LIBOR rate plus 3% loan purchase agreement with a warehouse line availability of $100,000,000, matures September 2020. |  | 67,537,600 |  | 25,680,649
Other short-term borrowings (1) |  | 1,250,000 |  | 47,250,000
Finance lease liabilities |  | 153,439 |  | -
Other loans payable |  | 67,989 |  | 97,977
Total bank and other loans |  | 217,572,612 |  | 187,521,188
Less current installments |  | 192,985,602 |  | 165,219,632
Bank and other loans, excluding current installments |  | $ 24,587,010 |  | $ 22,301,556
(1) Federal Home Loan Bank and Revolving Lines of Credit |  |  |  |

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