Refinance is roughly .2% higher, honestly 4.375% APR in *most* situations probably equates to a 3.9/4% interest rate. If you refinanced you would probably end up in a similar situation + all associates fees.
I am just starting a first time home buyers program called NACA. They offer lower rates. They are the broker and work with big name banks. They are designed to work with low income members and to even out communitys. Upper class vs lower class. There are such thing as priority members non priority members. A prioirty member would be someone who is under the median income lever. But the program is for everything. You can buy down your interest at closing as well. There loans are conventional as well. Almost to good to be true but I am giving it a shot.