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Refinancing w/ a First-Time Home Buyer Loan...is it worth it?

I believe that if I refinance our home, we would have to "pay" the first time homeowners grant back. It's something like $7k for 15yrs (starts to go down at year 10). Here's some info:

Loan: 189,1k

Rate: 4.75%

Term: 30yr

Type: Conventional

Year purchased: 2017

First time homeowners grant: $5.6k (180mo loan)

Monthly: $1475 with PMI, Escrow; $987 principal & interest

Location: Charlotte Area, NC

I've briefly looked into refinancing already with couple of companies but backed out because I have no clue if it's worth going through. I know I can very likely get a rate under 3.75% but wanted to know if anyone else has done this before?

submitted by /u/megawatz
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source https://www.reddit.com/r/RealEstate/comments/lu0u6t/refinancing_w_a_firsttime_home_buyer_loanis_it/
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