1:7 In him 1 we have redemption through his blood, 2 the forgiveness of our trespasses, according to the riches of his grace
1:14 who is the down payment 3 of our inheritance, until the redemption of God’s own possession, 4 to the praise of his glory.
2 sn In this context his blood, the blood of Jesus Christ, refers to the price paid for believers’ redemption, which is the sacrificial death of Christ on the cross.
3 tn Or “first installment,” “pledge,” “deposit.”
sn Down payment. The Greek word ἀρραβών (arrabwn) denotes the first payment or first installment of money or goods which serves as a guarantee or pledge for the completion of the transaction. In the NT the term is used only figuratively of the Holy Spirit as the down payment of the blessings promised by God (it is used also in 2 Cor 1:22 and 5:5). In the “already – not yet” scheme of the NT the possession of the Spirit now by believers (“already”) can be viewed as a guarantee that God will give them the balance of the promised blessings in the future (“not yet”).
4 tn Grk “the possession.”