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Consumer Loans Receivable | 9 Months Ended
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Dec. 30, 2023
Receivables [Abstract] |
Consumer Loans Receivable | Consumer Loans Receivable The following table summarizes consumer loans receivable (in thousands):
| December 30, 2023 |  | April 1, 2023
Loans held for investment, previously securitized | $ | 18,001 |  |  | $ | 21,000 |
Loans held for investment | 12,901 |  |  | 13,117 |
Loans held for sale | 6,236 |  |  | 10,846 |
Construction advances | 464 |  |  | 706 |
| 37,602 |  |  | 45,669 |
Deferred financing fees and other, net | (362) |  |  | (368) |
Allowance for loan losses | (1,106) |  |  | (1,153) |
| 36,134 |  |  | 44,148 |
Less current portion | (11,855) |  |  | (17,019) |
| $ | 24,279 |  |  | $ | 27,129 |
The consumer loans held for investment had the following characteristics:
| December 30, 2023 |  | April 1, 2023
Weighted average contractual interest rate | 8.0 | % |  | 8.2 | %
Weighted average effective interest rate | 8.6 | % |  | 8.8 | %
Weighted average months to maturity | 173 |  | 150
The following table is a consolidated summary of the delinquency status of the outstanding principal balance of consumer loans receivable (in thousands):
| December 30, 2023 |  | April 1, 2023
Current | $ | 35,403 |  |  | $ | 43,252 |
31 to 60 days | 951 |  |  | 1,247 |
61 to 90 days | 311 |  |  | 213 |
91+ days | 937 |  |  | 957 |
| $ | 37,602 |  |  | $ | 45,669 |
The following table disaggregates the outstanding principal balance of consumer loans receivable by credit quality indicator and fiscal year of origination (in thousands):
| December 30, 2023
| 2024 |  | 2023 |  | 2022 |  | 2021 |  | 2020 |  | Prior |  | Total
Prime- FICO score 680 and greater | $ | 5,628 |  |  | $ | 329 |  |  | $ | 97 |  |  | $ | 985 |  |  | $ | 1,914 |  |  | $ | 15,413 |  |  | $ | 24,366 |
Near Prime- FICO score 620-679 | 744 |  |  | — |  |  | — |  |  | 1,208 |  |  | 949 |  |  | 9,146 |  |  | 12,047 |
Sub-Prime- FICO score less than 620 | — |  |  | — |  |  | — |  |  | 18 |  |  | 49 |  |  | 803 |  |  | 870 |
No FICO score | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 319 |  |  | 319 |
| $ | 6,372 |  |  | $ | 329 |  |  | $ | 97 |  |  | $ | 2,211 |  |  | $ | 2,912 |  |  | $ | 25,681 |  |  | $ | 37,602 |
| April 1, 2023
| 2023 |  | 2022 |  | 2021 |  | 2020 |  | 2019 |  | Prior |  | Total
Prime- FICO score 680 and greater | $ | 9,471 |  |  | $ | 185 |  |  | $ | 1,051 |  |  | $ | 1,982 |  |  | $ | 1,191 |  |  | $ | 16,601 |  |  | $ | 30,481 |
Near Prime- FICO score 620-679 | 1,695 |  |  | — |  |  | 1,012 |  |  | 1,131 |  |  | 1,550 |  |  | 8,244 |  |  | 13,632 |
Sub-Prime- FICO score less than 620 | 84 |  |  | — |  |  | 19 |  |  | 51 |  |  | — |  |  | 1,033 |  |  | 1,187 |
No FICO score | — |  |  | — |  |  | — |  |  | — |  |  | 24 |  |  | 345 |  |  | 369 |
| $ | 11,250 |  |  | $ | 185 |  |  | $ | 2,082 |  |  | $ | 3,164 |  |  | $ | 2,765 |  |  | $ | 26,223 |  |  | $ | 45,669 |
As of December 30, 2023, 42% of the outstanding principal balance of the consumer loans receivable portfolio was concentrated in Texas and 14% was concentrated in Florida. As of April 1, 2023, 44% of the outstanding principal balance of the consumer loans receivable portfolio was concentrated in Texas and 13% 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 December 30, 2023 or April 1, 2023. Repossessed homes totaled approximately $0.8 million and $1.1 million as of December 30, 2023 and April 1, 2023, respectively, and are included in Prepaid expenses and other current assets in the Consolidated Balance Sheets. Homes undergoing foreclosure or similar proceedings in progress totaled approximately $0.4 million and $0.5 million as of December 30, 2023 and April 1, 2023, respectively.

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- Definition The entire disclosure for financing receivable. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 310 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 42 -Subparagraph (a)(2) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481962/310-10-50-42 Reference 2: http://www.xbrl.org/2003/role/exampleRef -Topic 310 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 12A -Publisher FASB -URI https://asc.fasb.org//1943274/2147481933/310-10-55-12A Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 310 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 44 -Subparagraph (a)(1) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481962/310-10-50-44 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 310 -SubTopic 10 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//310-10/tableOfContent Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 310 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//310-20/tableOfContent + Details
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