and are being justified [declared free of the guilt of sin, made acceptable to God, and granted eternal life] as a gift by His [precious, undeserved] grace, through the redemption [the payment for our sin] which is [provided] in Christ Jesus,

Now to a laborer, his wages are not credited as a favor or a gift, but as an obligation [something owed to him].

Therefore, since we have been justified [that is, acquitted of sin, declared blameless before God] by faith, [let us grasp the fact that] we have peace with God [and the joy of reconciliation with Him] through our Lord Jesus Christ (the Messiah, the Anointed).

But if it is by grace [God’s unmerited favor], it is no longer on the basis of works, otherwise grace is no longer grace [it would not be a gift but a reward for works].

And such were some of you [before you believed]. But you were washed [by the atoning sacrifice of Christ], you were sanctified [set apart for God, and made holy], you were justified [declared free of guilt] in the name of the Lord Jesus Christ and in the [Holy] Spirit of our God [the source of the believer’s new life and changed behavior].

yet we know that a man is not justified [and placed in right standing with God] by works of the Law, but [only] through faith in [God’s beloved Son,] Christ Jesus. And even we [as Jews] have believed in Christ Jesus, so that we may be justified by faith in Christ and not by works of the Law. By observing the Law no one will ever be justified [declared free of the guilt of sin and its penalty].

Made

And if [we are His] children, [then we are His] heirs also: heirs of God and fellow heirs with Christ [sharing His spiritual blessing and inheritance], if indeed we share in His suffering so that we may also share in His glory.

And if you belong to Christ [if you are in Him], then you are Abraham’s descendants, and [spiritual] heirs according to [God’s] promise.

Therefore you are no longer a slave (bond-servant), but a son; and if a son, then also an heir through [the gracious act of] God [through Christ].

In the same way God, in His desire to show to the heirs of the promise the unchangeable nature of His purpose, intervened and guaranteed it with an oath,

By faith [with confidence in God and His word] Noah, being warned by God about events not yet seen, in reverence prepared an ark for the salvation of his family. By this [act of obedience] he condemned the world and became an heir of the righteousness which comes by faith.

Listen, my beloved brothers and sisters: has not God chosen the poor of this world to be rich in faith and [as believers to be] heirs of the kingdom which He promised to those who love Him?

In the same way, you husbands, live with your wives in an understanding way [with great gentleness and tact, and with an intelligent regard for the marriage relationship], as with someone physically weaker, since she is a woman. Show her honor and respect as a fellow heir of the grace of life, so that your prayers will not be hindered or ineffective.

Hope

based on the hope and divine guarantee of eternal life, [the life] which God, who is ever truthful and without deceit, promised before the ages of time began,

awaiting and confidently expecting the [fulfillment of our] blessed hope and the glorious appearing of our great God and Savior, Christ Jesus,

General references

But Noah found favor and grace in the eyes of the Lord.

For we maintain that an individual is justified by faith distinctly apart from works of the Law [the observance of which has nothing to do with justification, that is, being declared free of the guilt of sin and made acceptable to God].

This is the promise which He Himself promised us—eternal life.