B F 1-3. Past condition by nature. G 4-10. Present condition by grace. F 11,12. Past condition by birth. G 13-22. Present condition by super-abounding grace.
1 Even you (resuming from 1:19)Has He made alive, who were dead by your trespasses and sins; (The wages of sin is death. God forgives our sins, and we once again are spiritually alive. If we don't repent, we are spiritually dead.)
2 In which once you walked according to the age of this world, according to the ruler of the power of the air (i.e. Satan. Cp. 2 Cor. 4:4. In this Epistle Paul uses the very terminology of the Gnostic teaching that the universe was ruled by Aeons, emanations of Deity. The archon here being the one who had dominion over the air, and the whole body of Aerons forming the pleroma [fullness]of the spiritual world, in contrast with the emptiness [kenoma]or unsubstantial character of the material world [kosmos]), the spirit that now is working in the children of the disobedience: (Hebraism: not disobedient children, but sons of Satan in a special manner, being those in whom he works, and on whom the wrath of God comes [5:6]. The prince of the power of the air is Satan. You don't have to look very far to see his influence on people now. You don't want to go there. Stick with God's power.)
3 Among whom we also all had our conversation all once lived in the lusts of our flesh (old nature. See Rom. 7:5), doing the desires of the flesh (the coarse lusts of the body) and of the mind (thought, the refined lusts of the mind); and were by nature (see Rom. 2;27) children of wrath (see Rom. 1:18), even as also others. (If your spiritual body is dead, your flesh will be in the ways of the world.)
4 But God, being rich in mercy (cp. Rom. 9:23), on account of His great love wherewith He loved us,
5 Even when we were dead in sins (as trespass in v.1), made us alive with with Christ, (by grace you were saved;) (We all fall short. None of us are worthy of God's unmerited favor. But when we repent, He forgives us. Why? Because God loves us.)
6 And raised us up together [with Him], and made us sit together in heavenly places (as in 1:3) in Christ Jesus: (Don't overlook this verse. Jesus is at the right hand of God. If you are in Him, and He in you, you are there in heavenly places, as well. Don't ever let that slip away.)
7 In order that the ages to come He might show the exceeding riches of His grace in His kindness (see Rom. 2:4) toward us through Christ Jesus. ("Exceeding" is the Greek word "huperbole". The riches of Father grace far exceeds anything else. That is why God's elect excel.)
8 For by grace are you saved through faith (we are saved by grace, not by faith, which is the channel through which flows to us the Divine stream of saving grace. Both alike God's gifts); and that not of yourselves: it is the gift of God:
9 Not of works, in order that no one should boast. (Man can't create his own salvation. Salvation is a gift from God. Don't forget to give credit where credit is due.)
10 For we are His handiwork (refers to the new creation), having been created in Christ Jesus to good works, which God before prepared in order that we should walk in them. (Our Father loves His children.)
11 Wherefore remember, that you being in time past Gentiles in the flesh, who are called Uncircumcised (see Rom. 2:25) by that which is called the Circumcision in the flesh made by hands; (Made by Judaeans by rite. Cp. Rom. 2:28,29.)
12 That at that time you were apart from Christ, having been estranged from the freedom of Israel, and strangers from the covenants of the promise, having no hope, and without God in the world:
13 But now in Christ Jesus you who once were far off were made near by the blood of Christ. (I.e. His death, not His life. Cp. 1:7 Rom. 5;9 Phil. 2;8. Col. 1:14,20.)
14 For He is our peace (He is the Author of it [1 Thess. 5:23. 2 Thess. 3:15], to us and in us. Cp. Isa. 9;6; 52:7; 57:19. Mic. 5:5. Hah. 2:9. Zech. 9:10. Luke 2:14. John 14:27; 20:19,21,26), Who having made both one (Judaeans and Gentiles), and has destroyed (see 1 John 3;8) the middle wall of the partition; (The type is seen in the stone palisade, about 3 cubits high, which separated the Court of the Gentiles from that of the Jews, to pass which was death to any Gentile. A notice, of which Josephus speaks, was found in 1871)
15 Having done away with in His flesh (i.e. His death) the enmity (see Rom. 8:7), even the law of commandments contained in ordinances; in order that He might create in Himself the two (i.e. Judeans and Gentiles) into one new man, so making peace;
16 And that He might bring together again both to God in one body by the cross (cp. 1 Cor. 1;17. Gal. 6:12,14), having slain the enmity (I.e. of the law of the dogmatic commandments [v.15] which was against us [see Col. 2;14], and which we could not keep) by it: (I.e. the cross.)
17 And having come and He preached the good news peace to you which were afar off, and peace to them that were near.
18 For through Him we both have the access (see Rom. 5:2) by one Spirit to the Father.
19 So then you are no longer strangers and sojourners, but fellow-citizens with the saints (whose seat of government is in heaven), and of the household of God;
20 Having been built upon the foundation of the apostles and prophets (the foundation laid by the apostles and prophets [cp. Heb. 2:3,4; 6:1,2], or  the foundation of the apostles and prophets themselves, laid by God), Christ Jesus Himself being foundation corner stone; (Christ is both foundation corner-stone, and head of the corner. Cp. Ps. 118:22. See Acts 4:11)
21 In whom every building harmoniously fitted together is growing (increasing) to a holy Sanctuary (see Matt. 23:16) in the Lord:
22 In whom you also are being built in together for an habitation of God through the Spirit.