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Consumer Loans Receivable
 6 Months Ended
Oct. 02, 2021
Receivables [Abstract]  
Consumer Loans Receivable Consumer Loans Receivable
The following table summarizes consumer loans receivable (in thousands):
October 2,
2021		April 3,
2021
Loans held for investment, previously securitized$28,631 $31,949 
Loans held for investment16,207 18,690 
Loans held for sale10,253 15,587 
Construction advances7,485 13,801 
62,576 80,027 
Deferred financing fees and other, net(1,178)(2,041)
Allowance for loan losses(2,799)(3,188)
58,599 74,798 
Less current portion(26,475)(37,690)
$32,124 $37,108 
The following table represents changes in the estimated allowance for loan losses, including related additions and deductions to the allowance for loan losses (in thousands):
Three Months EndedSix Months Ended
October 2,
2021		September 26,
2020		October 2,
2021		September 26,
2020
Allowance for loan losses at beginning of period$2,918 $4,012 $3,188 $1,767 
Impact of adoption of Financial Accounting Standards Board's Accounting Standards Update 2016-13 Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments ("ASU 2016-13")
— — — 2,276 
Change in estimated loan losses, net210 (94)(57)67 
Charge-offs(329)(8)(332)(200)
Allowance for loan losses at end of period$2,799 $3,910 $2,799 $3,910 
The consumer loans held for investment had the following characteristics:
October 2,
2021		April 3,
2021
Weighted average contractual interest rate8.2 %8.3 %
Weighted average effective interest rate8.8 %9.3 %
Weighted average months to maturity157162
The following table is a consolidated summary of the delinquency status of the outstanding amortized cost of consumer loans receivable (in thousands):
October 2,
2021		April 3,
2021
Current$59,602 $76,378 
31 to 60 days110 508 
61 to 90 days2,502 21 
91+ days362 3,120 
$62,576 $80,027 
The following tables disaggregate gross consumer loans receivable by credit quality indicator and fiscal year of origination (in thousands):
October 2, 2021
20222021202020192018PriorTotal
Prime- FICO score 680 and greater
$6,664 $5,077 $2,776 $1,408 $765 $22,669 $39,359 
Near Prime- FICO score 620-679
2,247 3,445 2,175 1,856 1,354 9,978 21,055 
Sub-Prime- FICO score less than 620
— 21 53 — — 1,547 1,621 
No FICO score
— 149 19 27 — 346 541 
$8,911 $8,692 $5,023 $3,291 $2,119 $34,540 $62,576 
April 3, 2021
20212020201920182017PriorTotal
Prime- FICO score 680 and greater
$18,250 $3,575 $1,718 $971 $1,959 $23,375 $49,848 
Near Prime- FICO score 620-679
10,227 2,744 1,794 1,364 500 10,401 27,030 
Sub-Prime- FICO score less than 620
348 53 — — 84 1,579 2,064 
No FICO score
576 — 28 — — 481 1,085 
$29,401 $6,372 $3,540 $2,335 $2,543 $35,836 $80,027 
As of October 2, 2021, 36% of the outstanding principal balance of the consumer loans receivable portfolio was concentrated in Texas and 18% was concentrated in Florida. As of April 3, 2021, 35% of the outstanding principal balance of the consumer loans receivable portfolio was concentrated in Texas and 20% was concentrated in Florida. Other than Texas and Florida, no state had concentrations in excess of 10% of the principal balance of the consumer loans receivable as of October 2, 2021 or April 3, 2021.
Repossessed homes totaled approximately $893,000 and $518,000 as of October 2, 2021 and April 3, 2021, respectively, and are included in Prepaid expenses and other current assets in the Consolidated Balance Sheets. Foreclosure or similar proceedings in progress totaled approximately $927,000 and $1.1 million as of October 2, 2021 and April 3, 2021, respectively.