This is how I hang my weighted Falcon top hook in my 5" Lurecraft swimbait mold, #5/894.
I pinch a big split shot on the bottom of the hook, just behind the lead it comes with.
It's a 6/0 hook, and 1/4oz weight, but it's not heavy enough by itself, and the weight isn't low enough, to keep the bait stable on the retrieve.
It swims fine a low speeds, but it swims on it's side at faster retrieves.
I fish it on the bottom, so that's not an issue, or I'd add more low ballast.