I purchased a home on april 4,2014. My question is ..Can I refinance to get a lower mnthly payment?

Yes but it would have to be at least 5% lower than now. The purchase price or appraised value which ever is lower, will be used to determine Loan to value.

Yes, but there must be "significant benefits" to you.

Yes, but as Dave said it must be a significant benefit to you.

Yes and no... First, many loan programs have minimum savings requirements for it to "make sense" for you, and to keep lenders from refinancing people with no benefits. Secondly, you have to pay closing costs all over again... Then finally, while rates have dropped a little recently, I find it hard to believe whatever deal you have just closed on would have any real benefit to refinancing... Talk to a local mortgage broker to run a cost analysis. www.SaintPaulMortgageBroker.com

If rates are low enough to make it worthwhile. Depending on your circumstances it may or may not make sense.