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For this reason
"So"
it is by faith
The word "it" refers to receiving what God had promised. AT: "it is by faith that we receive the promise" or "we receive the promise by faith"
in order that the promise may rest on grace
Here "the promise may rest on grace" represents God giving what he promised because of his grace. AT: "so that what he promised might be a free gift" or "so that his promise would be because of his grace" (See: rc://en/ta/man/translate/figs-metaphor)
those who are under the law
This refers to the Jewish people, who were obligated to obey the law of Moses.
those who share the faith of Abraham
This refers to those who have faith as Abraham did before he was circumcised. AT: "those who believe as Abraham did"
father of us all
Here the word "us" refers to Paul and includes all Jewish and non-Jewish believers in Christ. Abraham is the physical ancestor of the Jewish people, but he is also the spiritual father of those who have faith. (See: rc://en/ta/man/translate/figs-inclusive)