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Faith plays a significant role in salvation, however, I believe that role is misunderstood by the vast majority of believers. That misunderstanding has lead to countless debates and arguments which can never be resolved because of both sides are wrong. For example, Calvinism and Arminianism, covenant theology and dispensationalism, Jews vs Gentiles, faith vs works, etc etc etc. All of these can be resolved by looking at faith in the proper way.
The role of faith is qualifying us for the Abrahamic covenant of righteousness by faith. Most Christians mistakenly believe that faith directly qualifies us for righteousness. However, this is incorrect. Faith directly qualifies us a descendants of Abraham, and it is descendants of Abraham (those with the same faith in the gospel which Abraham had) who inherit Christ's righteousness through Abraham's covenant.
When we have the same faith in the gospel of Jesus Christ that Abraham had, we are adopted as his descendants and become heirs of God's promise to him that he and his descendants would be made righteous.
The role of faith is qualifying us for the Abrahamic covenant of righteousness by faith. Most Christians mistakenly believe that faith directly qualifies us for righteousness. However, this is incorrect. Faith directly qualifies us a descendants of Abraham, and it is descendants of Abraham (those with the same faith in the gospel which Abraham had) who inherit Christ's righteousness through Abraham's covenant.
Gal 3:6-9, 16 NASB95 - 6 Even so Abraham BELIEVED GOD, AND IT WAS RECKONED TO HIM AS RIGHTEOUSNESS. 7 Therefore, be sure that it is those who are of faith who are sons of Abraham. 8 The Scripture, foreseeing that God would justify the Gentiles by faith, preached the gospel beforehand to Abraham, [saying,] "ALL THE NATIONS WILL BE BLESSED IN YOU." 9 So then those who are of faith are blessed with Abraham, the believer. ... 16 Now the promises were spoken to Abraham and to his seed. He does not say, "And to seeds," as [referring] to many, but [rather] to one, "AND TO YOUR SEED," that is, Christ.
Gen 15:5-6 NASB95 - 5 And He took him outside and said, "Now look toward the heavens, and count the stars, if you are able to count them." And He said to him, "So shall your seed be." 6 Then he believed in the LORD; and He reckoned it to him as righteousness.
Rom 4:9-13, 16-17 NASB95 - 9 Is this blessing then on the circumcised, or on the uncircumcised also? For we say, "FAITH WAS CREDITED TO ABRAHAM AS RIGHTEOUSNESS." 10 How then was it credited? While he was circumcised, or uncircumcised? Not while circumcised, but while uncircumcised; 11 and he received the sign of circumcision, a seal of the righteousness of the faith which he had while uncircumcised, so that he might be the father of all who believe without being circumcised, that righteousness might be credited to them, 12 and the father of circumcision to those who not only are of the circumcision, but who also follow in the steps of the faith of our father Abraham which he had while uncircumcised. 13 For the promise to Abraham or to his descendants that he would be heir of the world was not through the Law, but through the righteousness of faith. ... 16 For this reason [it is] by faith, in order that [it may be] in accordance with grace, so that the promise will be guaranteed to all the descendants, not only to those who are of the Law, but also to those who are of the faith of Abraham, who is the father of us all, 17 (as it is written, "A FATHER OF MANY NATIONS HAVE I MADE YOU") in the presence of Him whom he believed, [even] God, who gives life to the dead and calls into being that which does not exist.
Gen 17:4-7 NASB95 - 4 "As for Me, behold, My covenant is with you, And you will be the father of a multitude of nations. 5 "No longer shall your name be called Abram, But your name shall be Abraham; For I have made you the father of a multitude of nations. 6 "I will make you exceedingly fruitful, and I will make nations of you, and kings will come forth from you. 7 "I will establish My covenant between Me and you and your seed after you throughout their generations for an everlasting covenant, to be God to you and to your seed after you.
When we have the same faith in the gospel of Jesus Christ that Abraham had, we are adopted as his descendants and become heirs of God's promise to him that he and his descendants would be made righteous.