Resource from Christian Apologetics & Research Ministry at http://www.carm.org (Joshua highly recommends)
If by "practicing homosexual" means that a person who is openly approving of homosexuality and is engaged in it, can this person be saved? Yes and no. Yes because any sinner has the potential of becoming saved. On the other hand, if the person is professing to be a Christian yet is unrepentantly practicing homosexuality, then it would appear that he would not be saved as he isn’t genuine in his faith. 1 John 2:4 says, "The one who says, 'I have come to know Him,' and does not keep His commandments, is a liar, and the truth is not in him." So, a homosexual can be saved, but once saved, the Spirit of God will move and empower that person to repent of the sin of homosexuality. If a person continues to unrepentantly practice homosexuality, promoting it, etc., then that person would not be demonstrating evidence of regeneration (dead to the old sinful nature and new transformed life in Christ).
But then again, a person could become saved, trapped in homosexuality, be convicted by the Spirit of the sin, all the while seeking to break free from it. So technically, in this last sense, he could be saved but still have homosexual orientation – not as a life style, but as in struggling against the sin which sometimes can get the best of him/her. One who is struggling to get out of sin is totally different from one who blatantly sin without sense of repentance. It would be like a drug addict becoming a Christian and still being hooked on drugs while trying to be healed and free from it. He would struggle against it as he still has the sinful desire to participate in it. Salvation (justification by grace through faith) is immediate yet sanctification takes time as it is a process we all go through with various kinds of struggle.
I would say that a person who has professed Christ and is struggling against sin is demonstrating evidence of regeneration (evidence of new life in Christ by the Holy Spirit). Remember, many people who become Christians still struggle with many of their old sins. Even Paul struggled, "For the good that I wish, I do not do; but I practice the very evil that I do not wish," (Rom. 7:19). We are not perfect and we must remember to be gracious to others, especially when they are stuck in an old sin, want to repent of it, and are trying to have victory over it. This is when grace is need, not law. But, of course, we are never to encourage or excuse a person's sin. We must pray for them to attain full victory.
Now, some Christians will state that once you become saved, you should automatically have victory over all your sins. This is an unfortunate burden they place on many Christians because "perfection" becomes the standard for measuring whether or not they are Christians. This can cause people to doubt their salvation. While it is true that we have victory in many areas when we become saved, it is also true that we still struggle with many of our old sins. But of course, it is never okay for us to go ahead and sin (Rom. 6:1-2). We must always struggle for holiness and not take God’s grace for granted as an excuse to justify our sinning. The fact is, like Paul, we sometimes do the things we don't want to do and don't do what we should. It is our struggle against sin that demonstrates that we are regenerate since we are seeking to be holy as God is holy (1 Pet. 1:16).
Finally, it is not dead people who struggle for life. Only those who are alive struggle. Likewise, the dead in sin, the unregenerate do not struggle against their sins. Christians do.
