Ephesians 2

Paul teaches that at some time when many of us were as natural men, that upon repentance -

"God, who is rich in mercy, for his great love wherewith he loved us,
5 Even when we were dead in sins, hath quickened us together with Christ, (by grace ye are saved;)
6 And hath raised us up together, and made us sit together in heavenly places in Christ Jesus:
7 That in the ages to come he might shew the exceeding riches of his grace in his kindness toward us through Christ Jesus.
8 For by grace are ye saved through faith; and that not of yourselves: it is the gift of God:
9 Not of works, lest any man should boast."  (New Testament | Ephesians 2:4 - 9)

With the following verses, it is apparent that Paul is writing to both the gentiles and the Jews.  Many of the Jews still focused on the law of Moses.  As that law was more and more defined, it was hard for many to overcome the teaching that by obedience to the Mosaic law, they would be saved.  The New Testament and the Book of Mormon is very clear that we are saved by grace.  There is no way anyone can save himself by works alone. But as Helaman told his sons -

"...the Lord surely should come to redeem his people, but that he should not come to redeem them in their sins, but to redeem them from their sins."  (Book of Mormon | Helaman 5:10)

Again, faith is a word of action.  Meaning that true faith reflects repentance and obedience to the laws and ordinances of the gospel of Jesus Christ.  But even so, there is no other name or means that man may be saved but through Jesus Christ and His atonement.  This becomes more clear as Paul adds -

"For we are his workmanship, created in Christ Jesus unto good works, which God hath before ordained that we should walk in them."  (New Testament | Ephesians 2:10)

As Paul speaks to both Jew and Gentile, he teaches unity in the Church, and how Christ's Church operates for -

"...ye are no more strangers and foreigners, but fellowcitizens with the saints, and of the household of God;
20 And are built upon the foundation of the apostles and prophets, Jesus Christ himself being the chief corner stone;
21 In whom all the building fitly framed together groweth unto an holy temple in the Lord:
22 In whom ye also are builded together for an habitation of God through the Spirit."  (New Testament | Ephesians 2:19 - 22)

The Church or "household of God" is to administered by apostles and prophets and as the saints have unity in fulfilling their individual callings in all holiness, it becomes a habitation for the Spirit of God.