The bill to extend the $8,000 tax credit to first-time homebuyers and open the program to move-up buyers easily cleared the House of Representatives by a 403-12 vote Thursday. The House vote came a day after the Senate passed the measure 98-0. President Barrack Obama is expected to sign the bill on Friday. This new program will replace the one that was part of the 2009 American Recovery and Reinvestment Act. That program is set to expire after Nov. 30 and offered up to an $8,000 tax credit to only first-time buyers. Here’s a look at the new tax credit program for homebuyers: • To qualify, homebuyers have until April 30, 2010 to be under contract for a home purchase and until June 30, 2010 to close the transaction. • Move-up buyers can qualify for 10 percent of the purchase price with a maximum $6,500 tax credit. Move-up buyers must have owned their home for at least five years. First-time buyers can still qualify for up to $8,000. • The bill also expands the income levels to qualify.... - Reggie Nicolay