References: Romans 4
God's promise to Abraham is commonly known as the Abrahamic Covenant. This lateral, unconditional promise God made to Abraham included three provisions: innumerable descendants; a specific land area; and a blessing that would extend the provision of salvation to Gentiles as well. Having received this promise from God, Abraham believed what God said. This was not a blind faith, but faith that totally believed God would do what He said He would because of who He is. By this faith of Abraham in this promise of God, he was declared righteous by God. There was no condition concerning the promise that necessitated him keeping the Law for its fulfillment. When works are added to faith, grace is nullified.
The grace of God, past, present, and future is the believer's blessed hope. The grace of God has appeared in the person and work of Jesus Christ. That grace in the past provided salvation of sinners who will come to God by faith alone, in Christ alone. The grace of God for the present, "now age" teaches and enables saved sinners to live consistent with their new character. Being so taught the believer lives a life of worship and obedience anticipating the future grace of God to reappear in the person of Jesus Christ. When He does, He will complete the transformation of believer's lives into perfect conformity with His character. The world may be falling apart but our great God and Savior is coming again. With that great hope we, who have been saved by the grace of His first appearing, endure, persevere, and rejoice, as we await His glorious return.