Bond for Deed, Bond for Title , Contract for Deed, Contract for Title, Land Contract etc. are all about the same thing depending on where you are from. In these cases, you don't get ownership(title) until you fulfill the contract. If you think about the words, Bond(Promise) for Deed(Ownership), then you can keep it straight. The documented(or something) should be recorded to protect you as the buyer. The document has a purchase and sale agreement and terms of your future payments, like a mortgage, all in one. Some banks will consider it a refi when you want to get a bank loan and some won't. Banks have guidelines that can be one way now and change next year when you are ready to refi. If you can get the terms you need, from the seller, why would you want to refi?
However, you do have risk when you buy with these. The seller could get a judgment that could attach to the property. Remember, the seller is still on title. The seller could get dead right before the closing and now you are dealing with an estate. The seller(or a judge) has to sign a deed at some point in the future for you to get ownership. Did you negotiate good enough terms with seller to take a little more risk?