I have seen a few of your posts. It seems that you are desperately trying to fit your finances into a home that may be too much of a stretch for your FHA and lower down payment abilities. Perhaps your agent is too afraid to be the one to disappoint you by saying; pick something solid and good that you can afford. The market conditions are tough, and the lending environment is even more difficult. If you stretch and push, you may get disappointed in the end. OR, perhaps your Realtor has already said these things and you are hoping for other options by looking here for more answers.
You are smart to look and questions but in the end purchase within your means. Stressing out about qualifying and paying more than you can afford may not be they lifestyle you thought it would be when you saw the wonderful twinkle of a flipped home. They can be gorgeous.
The largest hurdle you have is to obtain a decent interest rate for a Jumbo. Loans over the $417,000 conventional loan limit are considered jumbo loans. Also, If LTV > 80%, PMI will be added to your monthly mortgage payment. Depending on your lender, closing costs may need to be paid out of pocket; the home must be your primary residence and a single family home; debt-to-income ratio is less than 30%; and credit score is over 720, or in the case of certain Jumbo products you will need a credit score over 740. Good luck in your quest!