There were many different interpretations of Sola Fide during the Reformation, and no clear agreement. However, if you look at Luther's 95 theses, you start to see a view very much like your own.
>When our Lord and Master Jesus Christ said, ``Repent'' (Mt 4:17), he willed the entire life of believers to be one of repentance.
>This word cannot be understood as referring to the sacrament of penance, that is, confession and satisfaction, as administered by the clergy.
>Yet it does not mean solely inner repentance; such inner repentance is worthless unless it produces various outward mortification of the flesh.
>The penalty of sin remains as long as the hatred of self (that is, true inner repentance), namely till our entrance into the kingdom of heaven.
Indeed, it seems taking Sola Fide as a dogma in the Protestant church has done a lot of harm. Later, it took Luther to the point where he was ready to rip out the book of James.
Lastly–
>Is this an interpretation of Sola Fide
That should not matter to you. It should only matter whether it is a good interpretation of the Bible.