Curiously, this is what I taught as a Baptist.
I will point out what my understanding of the differences are:
We are saved - justification.
Catholics are justified by Baptism as is stated in the Scriptures and has always been the case in tradition as well.
We are being saved - sanctification (theosis or divinization)
Catholics believe sanctification is a process through the workings of the Holy Spirit that ends when one dies in which we either;
reach heaven - where we always remain subservient to the Creator but understand and see as he does through virtue of being perfectly united with him, as we are all destined,
reach purgatory - where we are purified of residual stains of venial sin before we enter heaven,
or - by free will choice (as the effects of mortal sins are) reject God and leave him with no way to repent for eternity.
Theosis and divination is rarely understood correctly in the context of Catholic teaching by non-Catholics so it would depend on that view being from the Church or some personal interpretation.
Many protestant and even non-Christians hold to extremely incorrect ideas of divination such as the Mormons or Hindu's and Buddhists.
For reading on this, Fr. Reginald Garrigou-Lagrange, O.P., presents the Church's theology in two works:
Christian Perfection and Contemplation, and the two volume
The Three Ages of the Interior Life.
CCC 460
The Word became flesh to make us "partakers of the divine nature": "For this is why the Word became man, and the Son of God became the Son of man:
so that man, by entering into communion with the Word and thus receiving divine sonship, might become a son of God." "For the Son of God became man
so that we might become God." "The only-begotten Son of God, wanting to make us
sharers in his divinity, assumed our nature, so
that he, made man, might make men gods."
CCC 759: "The eternal Father, in accordance with the utterly gratuitous and mysterious design of his wisdom and goodness, created the whole universe
and chose to raise up men to share in his own divine life," to which he calls all men in his Son. "The Father . . . determined to call together in a holy Church those who should believe in Christ." This "family of God" is gradually formed and takes shape during the stages of human history, in keeping with the Father's plan. In fact, "already present in figure at the beginning of the world, this Church was prepared in marvelous fashion in the history of the people of Israel and the old Advance. Established in this last age of the world and made manifest in the outpouring of the Spirit, it will be brought to glorious completion at the end of time."
We will be saved - glorification
Catholics believe we are already saved by the actions of our Lord Jesus Christ. We simply have yet to live up to our calling to Him. If we were sanctification would be unnecessary. God allows us free will to choose. The wise man who cooperates with the ample grace God gives to all builds up treasures in heaven by pursuing Christian perfection while here on earth. As a man comes to the Lord he departs from the world. Our true dignity is in the things of eternity and being transformed in the Lord.