What is the effective cost to the borrower on a $$1,500,000$ loan at $6\mathrm{.}25$ percent interest, with monthly payments amortized over $20$ years if the lender charges $1$ point at origination and the borrower will incur $$7,490$ in third party loan costs. Assume the loan is outstanding for the full loan term which is five years?

$6\mathrm{.}41$ percent

$6\mathrm{.}63$ percent

$6\mathrm{.}19$ percent

$7\mathrm{.}03$ percent