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Consumer Loans Receivable
 6 Months Ended
Oct. 01, 2022
Receivables [Abstract]  
Consumer Loans Receivable Consumer Loans Receivable
The following table summarizes consumer loans receivable (in thousands):
October 1,
2022		April 2,
2022
Loans held for investment, previously securitized$23,241 $26,014 
Loans held for investment14,213 14,771 
Loans held for sale11,035 8,500 
Construction advances993 3,547 
49,482 52,832 
Deferred financing fees and other, net(773)(833)
Allowance for loan losses(1,739)(2,115)
46,970 49,884 
Less current portion(18,400)(20,639)
$28,570 $29,245 
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 1,
2022		October 2,
2021		October 1,
2022		October 2,
2021
Allowance for loan losses at beginning of period$1,905 $2,918 $2,115 $3,188 
Change in estimated loan losses, net(166)210 (376)(57)
Charge-offs— (329)(19)(332)
Recoveries— — 19 — 
Allowance for loan losses at end of period$1,739 $2,799 $1,739 $2,799 
The consumer loans held for investment had the following characteristics:
October 1,
2022		April 2,
2022
Weighted average contractual interest rate8.3 %8.3 %
Weighted average effective interest rate9.0 %9.2 %
Weighted average months to maturity150151
The following table is a consolidated summary of the delinquency status of the outstanding consumer loans receivable (in thousands):
October 1,
2022		April 2,
2022
Current$47,539 $49,546 
31 to 60 days336 1,202 
61 to 90 days361 41 
91+ days1,246 2,043 
$49,482 $52,832 
The following tables disaggregate the principal value of consumer loans receivable by credit quality indicator and fiscal year of origination (in thousands):
October 1, 2022
20232022202120202019PriorTotal
Prime- FICO score 680 and greater
$8,596 $1,624 $1,064 $2,411 $1,265 $19,014 $33,974 
Near Prime- FICO score 620-679
1,049 153 1,022 1,135 1,615 9,116 14,090 
Sub-Prime- FICO score less than 620
— — 20 52 — 1,173 1,245 
No FICO score
— — — 16 25 132 173 
$9,645 $1,777 $2,106 $3,614 $2,905 $29,435 $49,482 
April 2, 2022
20222021202020192018PriorTotal
Prime- FICO score 680 and greater
$8,155 $1,615 $2,371 $1,339 $853 $20,485 $34,818 
Near Prime- FICO score 620-679
1,661 1,274 1,413 1,976 617 9,266 16,207 
Sub-Prime- FICO score less than 620
45 20 52 — — 1,318 1,435 
No FICO score
— — — 26 — 346 372 
$9,861 $2,909 $3,836 $3,341 $1,470 $31,415 $52,832 
As of October 1, 2022 and April 2, 2022, 43% and 39% of the outstanding principal balance of the consumer loans receivable portfolio was concentrated in Texas, respectively, and 16% and 17%, respectively was concentrated in Florida. Other than Texas and Florida, no state had concentrations in excess of 10% of the outstanding principal balance of the consumer loans receivable as of October 1, 2022 or April 2, 2022.
Repossessed homes totaled approximately $375,000 and $499,000 as of October 1, 2022 and April 2, 2022, respectively, and are included in Prepaid expenses and other current assets on the Consolidated Balance Sheets. Foreclosure or similar proceedings in progress totaled approximately $605,000 and $1.1 million as of October 1, 2022 and April 2, 2022, respectively.