If you go FHA and you purchase a home that sells for more than $417,000 and that home is located in what some lenders have defined as a soft market, then you may need to come in with more that the usual 3% down payment. For example, at Countrywide, if you finance a property in Richmond County, where Staten Island is located and which is considered a soft market, and the property is above $417,000, then you would need to come in with a minimum of 5%. This would mean that your minimum down payment on a $650,000 property would be $32,500.
If you go with something other than FHA, then you need to use a non-conforming loan which would require you to come in with actually 10% down since the purchase price is $650,000 and is above the maximum conforming amount of $417,000. Of course, this is assuming a minimum FICO of 700 and that you are planning to occupy the property you are considering or purchasing as a second home. If your score is less than 700 or the property will be an investment, then you may need to come in with more. Other strategies may be available depending on the situation.
I would recommend you contact a knowledgeable and professional Mortgage Consultant who can guide you through your options according to your specific circumstances.