Which is the earnest of our inheritance - On the meaning of this, see the notes at 2 Corinthians 1:22.
Until the redemption - see the notes at Romans 8:23. The meaning here is, we have the Holy Spirit as the pledge that that shall be ours, and the Holy Spirit will be imparted to us until we enter on that inheritance.
Of the purchased possession - Heaven, purchased for us by the death of the Redeemer. The word used here - περιποίησις peripoiēsis - occurs in the following places in the New Testament: 1 Thessalonians 5:9, rendered “to obtain salvation;” 2 Thessalonians 2:14, “to the obtaining of the glory of the Lord;” Hebrews 10:39, “to the saving of the soul;” 1 Peter 2:9, “a peculiar people;” literally, a people of “acquirement” to himself; and in the passage before us. It properly means, an acquisition, an obtaining, a laying up. Here it means, the complete deliverance from sin, and the eternal salvation “acquired” for us by Christ. The influence of the Holy Spirit, renewing and sanctifying us, comforting us in trials, and sustaining us in afflictions, is the pledge that the redemption is yet to be wholly ours.
Unto the praise of his glory - see Ephesians 1:6.