The difference is that faith is now; hope is always in the future. And there’s a reason for that.
Romans 8:24-25 states, “We were given this hope when we were saved. (If we already have something, we don’t need to hope for it. But if we look forward to something we don’t yet have, we must wait patiently and confidently.)”
Hope is that expectancy that keeps our faith alive until what we’re believing for comes.
Faith is always now, as stated in Hebrews 11:1: “Now faith is the substance of things hoped for….” Faith gives our hope substance. Faith says you receive when you pray (Mark 11:24). Faith is in the heart. Hope keeps your faith alive until those things you are believing for are pulled from the spiritual realm into the natural.