You will usually need to have excellent credit, an acceptable debt-to-income ratio to support a big loan, and the down payment will be considerable due to the fact that of the expense of the home. Payments made on a balloon home loan will usually be lower than average, and in many cases will only be interest payments.
This leads to a huge payment at the end of a fairly short-term. These mortgages are normally taken out commercially, and are taken out by those planning to offer a home in the near future. A loan with absolutely no down payment provided only to veterans. The down payment for a VA home mortgage is assisted by the VA - what lenders give mortgages after bankruptcy.