Romans 5:1

Being therefore justified by faith

(δικαιωθεντες ουν εκ πιστεως). First aorist passive participle of δικαιοω, to set right and expressing antecedent action to the verb εχωμεν. The ουν refers to the preceding conclusive argument (Chapter s 1 to 4) that this is done by faith.Let us have peace with God

(ειρηνην εχωμεν προς τον θεον). This is the correct text beyond a doubt, the present active subjunctive, not εχομεν (present active indicative) of the Textus Receptus which even the American Standard Bible accepts. It is curious how perverse many real scholars have been on this word and phrase here. Godet, for instance. Vincent says that "it is difficult if not impossible to explain it." One has only to observe the force of the tense to see Paul's meaning clearly. The mode is the volitive subjunctive and the present tense expresses linear action and so does not mean "make peace" as the ingressive aorist subjunctive ειρηνην σχωμεν would mean. A good example of σχωμεν occurs in Matthew 21:38 (σχωμεν την κληρονομιαν αυτου) where it means: "Let us get hold of his inheritance." Here ειρηνην εχωμεν can only mean: "Let us enjoy peace with God" or "Let us retain peace with God." We have in Acts 9:31 ειχεν ειρηνην (imperfect and so linear), the church "enjoyed peace," not "made peace." The preceding justification (δικαιωθεντες) "made peace with God." Observe προς (face to face) with τον θεον and δια (intermediate agent) with του κυριου.