Answer: No, you are not right. APR (Annual Percentage Rate) is a measure of the total cost of a loan, including interest, fees, and other costs associated with the loan, expressed as a percentage of the loan amount. The APR is typically higher than the interest rate, as it includes all other costs associated with the loan. The APR can vary depending on the length of the loan, the type of loan, and other factors such as credit history. Therefore, the APR can be different for different loans, even if the lock time is the same.
