ITT I will provide details on Luther's concept of justification(Sola Fide) and I would like to hear how much you agree/disagree with it regardless of your denomination. What I list down will be quoted from "Justification and Participation in Christ. The Development of the Lutheran Doctrine of Justification from Luther to the Formula of Concord (Brill, 2007)"
1)Gospel
Proclamation about God and His mercy to the fallen human race, who naturally cannot know him. Through this proclamation the Holy Spirit reveals God as merciful and loving to him by Christ giving Himself up for sinners. (pg.21-22)
2)Christ's Work and Atonement
a)Rescue fallen sinners who are under curse, bondage and oppression through the Law. Done through taking on the sins of the world and the place of sinners.Taking on all these sins means He becomes the "greatest and only sinner"(pg.22)
b)Mixture of Christus Victor and Penal Substitutionary Atonement. Christ destroys sin and death but also on behalf of humanity, suffers under the law and fulfils it(pg.25)
3)Effects of Christ's Work and Atonement
a)Exchange where the believers sins are transferred to Christ and Christ's righteousness onto them. Christ is in fact the righteousness of the believer(pg.26)
b)Sin and death no longer exists in believers.While one still feels its effects, God no longer imputes the guilt of sin against them given union with Christ by faith(ibid.)
c)Christ as Form of faith(pg.27)
d)The believer's union with Christ necessarily have a Sacramental foundation(pg.26,footnote 27).
4)Christ as Form of Faith
a)Faith as "sure trust" and "firm acceptance" in the heart which takes hold of Christ, which justifies the believer(pg.29)
b)Christ is present in Faith itself although Christ is "not seen". Luther compares this aspect of Faith through the cloud of Sinai in Exodus
c)Relies on utilising Aristotle's theory of perception. When the sinner apprehends Christ in the Gospel, He is made the form of the human intellect. The believer then is not just transformed into a natural likeness of Christ, Christ indeed lives in him(pg.32-33)
d)Given c), the believer and Christ could be said to be like one person, reflecting Christology. The believer and Christ are distinct and don't lose their identities but are so closely intertwined that they could meaningfully be said to be one(pg.35)