Jesus paid every believer's sin debt in full (1 John 1:7). The risen Christ saves us and all who believe on Him (Acts 16:30-31). The Spirit of grace gives faith in Christ for salvation.
The Bible refers to the Holy Spirit as the Spirit of grace (Hebrews 10:29). Grace comes before our response to the gospel. The Spirit of grace initiates our conversion. The Spirit of grace brings salvation to all who believe the gospel of Christ.
The Holy Spirit convicts us of the sin of unbelief. The Holy Spirit convicts us, pricks our hearts, and awakens us to the need for the Savior (John 16:7-11). The Spirit of grace prepares us to be saved through faith in Christ.
The Spirit of grace gives faith in our Lord Jesus Christ, and we are saved (Ephesians 2:8-10). The gospel of grace is Christ crucified for our sins and risen from the dead (1 Corinthians 15:1-4). The Holy Spirit brings the gift of faith in Christ (1 Corinthians 13:13). Faith is received through the word of God, inspired by the Holy Spirit (Romans 10:17; 2 Timothy 3:16).
God our Father draws us to Christ, through the Spirit of grace (John 6:44). The Holy Spirit enables our response to the gospel of Christ (1 Corinthians 12:3). To be saved by grace alone means the Spirit of grace gives us faith. We respond to the gospel through the Spirit of grace, believing on the Lord Jesus Christ.