What is the meaning of Romans 5:2?

2 By whom also we have access by faith into this grace wherein we stand, and rejoice in hope of the glory of God. (Romans 5:2 KJV)

William Burkitt’s Commentary

A second benefit which flows from justification by faith is our admission to grace and favour with God: This is a privilege beyond the former; a traitor may be pardoned by his prince and yet not admitted into the presence of his prince; as Absolem’s crime was forgiven but he must not see his father’s face: But by Christ’s mediation, every justified person meets with divine acceptance; yea, he is not only brought into a state of grace and favour, but he stands and abides in it. No sufferings from God, no sufferings from man for God’s sake, no temptations, no tribulations nor persecutions can cause God to cast him out of his grace and favour; having access by faith into it, he shall stand and abide in it. True, he may fall under his Father’s rod, but he shall never fall from his Father’s love:  Through Christ, we have access by faith into this grace wherein we stand.

A third benefit follows.  We rejoice in the hope of the glory of God.

Here observe, 1. The happy union and connection between grace and glory; grace is glory begun, and glory is grace consummated; grace is glory in the bud, glory is grace in the fruits; grace is the lowest degree of glory, and glory is the highest degree of grace.

Happy soul, that is partaker of the first fruits of grace! thou shalt ere long reap the crop of glory!

Observe, 2. A justified person has the hope of future glory and always may, and sometimes can, rejoice in the hope;  We rejoice in the hope of the glory of God: He hopes for the glory of God and well he may for ’tis purchased for him; ’tis promised to him; he has it already in the first fruits and earnest of that: It is prepared for him and he is preparing for that; and he rejoices in the hope of his glory, believing it to be great and glorious, sure and certain, never decaying, everlasting.