A welding-type power system that provides balanced split phase AC power or three phase AC power from a DC power bus that includes a power supply, a DC power bus, inverters, and a balancing circuit. The inverters and the balancing circuit are configured in a half-bridge topology. The balancing circuit is configured to balance a neutral midpoint of the DC power bus. The balanced split phase AC power or three phase AC power is accomplished by actively controlling the neutral midpoint of the DC power bus via the balancing circuit.