I found this question asked on another website, and was amazed at the analytical approach taken to attempt to explain it in such a way as to separate faith from works. It is sad that so many who could be great writers for God, are deceived by the devil and end up leading God’s children away from the truth. For further study, also see my expositions Is Obedience a Condition of Salvation? and If salvation is not in some manner based on works, what motive do you have to work?
Again, the key to properly understanding the salvation of God is in the inheritance. This is explained by Paul in Ephesians 1. In Romans 8:28-29 we are taught that God predetermined that an elect people would be conformed into the image of His Son, Jesus Christ. He further predetermined their final destiny by conforming them to the image of His Son through regeneration which is also known as being born of water and the washing of regeneration. Ephesians 1 further explains that at the time that God predetermined that His chosen would be conformed, He also predetermined that they would be adopted as children and be given an inheritance of eternal salvation and eternal life. Paul continues his teaching in Ephesians and explains that when those who have received the inheritance put their trust in Christ, after having heard the gospel message, and then believe in Christ, they receive the earnest of the inheritance they received when they were adopted as children. When one is able to come to terms with the truth as taught in the scriptures, he is finally able to see that first salvation is by grace and grace alone, not according to any works whatsoever. And then, if the person exercises his faith by trusting in Christ and believing in Christ, which are works of righteousness, he takes possession of that which he was already given through grace.
Ephesians 2:8-9 For by grace are ye saved through faith; and that not of yourselves: it is the gift of God: Not of works, lest any man should boast.
But in order to properly understand the passage above, one must take yet another step toward what I have said above concerning the inheritance. Because the salvation that one receives, by faith and works, is the earnest of that which he has already been given, it also is by grace and is a gift of God. The scriptures teach that when we are obedient, God the Father rewards us for our obedience. This reward is the earnest of the inheritance. The reward is derived from the inheritance, given to us by the Father, when we were adopted as a one of His children. Therefore, salvation is the result of both works and faith, but only if we have already received salvation by grace.