The House of Representatives voted Tuesday to give first time home buyers an extra three months to complete their purchases and qualify for tax credits of up to $8,000.

The bill would give buyers until September 30 instead of June 30 to complete their purchases.

The extended deadline is applicable to those who signed purchase agreements by April 30.

According to the National Association of Realtors, there are about 180,000 homebuyers who already signed purchase agreements are likely to miss the Wednesday deadline

The House voted 409 to 5 to extend the closing deadline to September 30. The move comes nearly a week after the Senate failed to advance a much larger jobs bill that contained the tax credit provision.

The popular tax credit has helped the economy to stabilize the nation's slumping housing market. According to the Internal Revenue Service, more than 2.6 million taxpayers claimed the tax credit through April amounting to $18.7 billion.

The NAR says the tax credit has generated 1 million new home sales that wouldn't have happened if not for the tax credit.

The tax credit for first-time homebuyers was part of President Barack Obama's economic stimulus enacted last year. In November, Congress extended the credit and expanded it to homeowners who bought new homes. First-time buyers were eligible for a tax credit of up to $8,000 while existing homeowners could qualify for a credit of up to $6,500.

The NAR has been pushing hard for the extension as mortgage lenders have been swamped with borrowers trying to get approved by the end of the month.

Buyers rushed to purchase before the tax credits expired at the end of April. The numbers are likely to drop in the next report.