Grace
At the foundation of God’s offer of salvation is his grace, which is a free gift of his favor (Isaiah 55:7; Romans 3:24; Eph. 1:6).  God graciously restores in totally depraved people the ability to make a decision about him.  For those who do respond positively to Christ, this grace becomes saving grace. 

Faith/Repentance
Both faith and repentance need to take place in order for people to experience true spiritual conversion.  Repentance is the turning of the unbeliever away from sin (Acts 8:22).  Faith is the turning of the unbeliever toward Christ (John 1:12). 

Regeneration
In salvation, people are regenerated.  Regeneration is God’s work of transforming believers and giving them new life (Romans 6:4; 2 Cor. 5:17; Titus 3:5). 

Union with Christ
When people are saved, they are joined in union with Christ (Romans 8:1; 12:2; 2 Cor. 4:16; Philippians 4:13). 

Justification
In Christ believers are also justified before God (Romans 5:1).  In this aspect of salvation, God imputes the righteousness of Christ on believers and declares them therefore as righteous in his sight. 

Sanctification
Through sanctification, Christians will grow in personal holiness by the power of the Holy Spirit, but they will not reach perfection this side of heaven (1 John 1:8-10; Romans 7:18-19).

Glorification
The culmination of salvation is glorification (Romans 8:29-30), that point when finally in the presence of the Lord the believer’s moral and spiritual nature is perfected.