“Therefore, having been justified by faith, we have peace with God through our Lord Jesus Christ”  Romans 5:1
 
The basis of this justification is the death of Jesus, the Christ, on the cross at Calvary.
“For He (God) made Him (Jesus Christ) who knew no sin to be sin for us, that we might become the righteousness of God  in Him.”  
2 Corinthians 5:21
 
Justified: not guilty.
“For by grace you have been saved through faith, and that not of yourselves; it is a gift of God.”  Ephesians 2:8
 
God imputed Jesus righteousness to those who believe, in exchange, our sins were imputed to Jesus.
“…God was in the world reconciling the world to Himself, not imputing their trespasses to them…”  
2 Corinthians 5:19
 
God is the One who initiated the reconciliation.
“But God demonstrated His own love toward us, in that while we were still sinners, Christ died for us.”  Romans 5:8
 
The Letter to the Colossians tells us of the supremacy of Christ.  Chapter 1:19-23 tells of His preeminence in redemption,
“For it pleased the Father that in Him all the fullness should dwell,
and by Him to reconcile all things to Himself, by Him, whether things on earth or things in heaven, having made peace through the blood of His cross.  And you who once were alienated and enemies in your mind by wicked works, yet now He has reconciled.”  Vs. 19-22
 
Ephesians 1:7-8 tells us,
“In Him (Jesus Christ) we have redemption through His blood, the forgiveness of sins, according to the riches of His grace which He (God) made to abound toward us in all wisdom and understanding.”  
 
By this redemption--
We have forgiveness:
“He has delivered us from the power of darkness and translated us into the kingdom of the Son of His love, in whom we have redemption through His blood, the forgiveness of sins.”  Colossians 1:13-14
 
We are justified:
“Being justified freely by His grace through the redemption that is in Christ Jesus.”  Romans 4:23
 
We are adopted into God’s family:
“But when the fullness of the time had come, God sent forth His Son, born of a woman, born under the law, to redeem those who were under the law, that we might receive the adoption as sons.”  Galatians 4:4-5
 
We are God’s possession:
“For you were bought at a price ; therefore glorify God in your body and in your spirit, which are God’s.”  1 Corinthians 6:20
 
We have an eternal inheritance:
“For this reason Christ is the mediator of a new covenant, that those who are called may receive the promised eternal inheritance--now that He has died as a ransom to set them free from the sins committed under the first covenant.”  Hebrews 9:15
 
Reflecting on these things causes the heart and soul of the Believer to burst out in praise songs, worshiping You most holy merciful and loving God with thankful hearts.  
 
With the Psalmist we sing,
“Make a joyful shout to the LORD, all you lands!
Serve the LORD with gladness;
Come before His presence with singing.
Know that the LORD, He is God;
It is He who has made us, and not we ourselves;
We are His people and the sheep of His pasture.
Enter into His gates with thanksgiving,
And into His courts with praise.
Be thankful to Him, and bless His name.
For the LORD is good;
And His truth endures to all generations.”  Psalm 100 
Amen