NASB
Therefore, having been
justified by faith, we have peace with God through our Lord Jesus Christ,
The phrase for study in this verse is "justified by faith." Now the Greek word translated "justified" is also translated by some versions as "declared righteous." And the word certainly has both meanings within its semantic range. However if God is causing the righteousness, the word should be translated as made righteous or justified, rather than "declared righteous." A perusal of the places where "declared righteous" is intended are the verses where individuals declare themselves righteous. See
Luke 7:29, 10:29 and 16:15.
The "by" in our phrase translates the Greek preposition "ek" which means (positionally) out of, and metaphorically based upon. Thus we are justified based on faith. Now is that any faith or only faith in Christ as credited by God? As credited by God. See
Romans 4:23-25.
NASB
Therefore, having been justified by faith, we have peace with God through our Lord Jesus Christ,
One of the things I was taught as part of learning how to study scripture was to ask, "What is the therefore therefore?"
The Greek word, "oun" G3767 when used as a conjunction ties what has been presented to its conclusion, thus could also be translated as "accordingly or consequently." The idea is you need to look at the prior verses to see what is being concluded.
Here a chapter break (end of chapter 4, start of chapter 5) also artificially breaks up the passage.
Romans 4:23-25 is thus summarized by
Romans 5:1.
Romans 4:23- 5:1
Now not for his sake only was it written that it was credited to him,
but for our sake also, to whom it [righteousness] will be credited,
to us who believe in Him who raised Jesus our Lord from the dead,
He who was delivered over because of our wrongdoings, and was raised because of our justification.
Therefore, having been
justified on the basis of faith, we have peace with God through our Lord Jesus Christ,