Owner finance to refi

[Drew Johnson]

I want to purchase a 5-acre property with a residence. I am going to owner finance the first 2.2 acres with the residence for 3 years and 20% down, then I plan to obtain a conventional mortgage. If I want to obtain a conventional mortgage for the rest of the 5 acres, would that be considered a refinance? Or do I have to put an additional 20% down? I am trying to determine how much I will have to come up with to obtain the conventional mortgage. If I have 20% equity in the property by the time I go to get a conventional mortgage, will I have to come up with a down payment at all? Any help would be greatly appreciated!