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speratus said:

Our exercise of faith, in no way, justifies us before God. The exercise of faith is always impure because of the old man that dwells within us.

It is not the exercise of faith that justifies but faith itself that justifies. Faith is not a good work but a gift of God whereby we lay hold of Christ and His righteousness not having a righteousness of our own.

No, faith itself does not justify. GOD justifies! However, we are justified through that faith which we are given in regeneration. What does it mean "to exercise faith"? It means "to lay hold of Christ"! What does the Scripture say when it speaks of Abraham? "Abraham believed God, and it was credited to him as righteousness" (Rom. 4:3). Who believed, who exercised faith, who trusted God, who laid hold of Christ? Abraham did. And by this means, and no other, Abraham was justified, and so we all. See this article: "Justification by Faith Alone (the Nature of Justifying Faith)," by Dr. John H. Gerstner.

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Yes, regeneration precedes the exercise of faith. However, that is not the question. The question is: Does regeneration precede justification by faith?

It must precede justification by faith because there is no faith before regeneration.

Kyle

I tell you, this man went down to his house justified.