God once made a full and perfect sacrifice

Oblation and atonement for the sins of the world

Then the Lamb ascended to His Father's side

And there He reigns forever and will come to rule the Earth

We are debt free we are debt free we are debt free the slate has been wiped clean

He's redeemed us He's redeemed us He's redeemed us from the bondage of slavery

We are designed to love Messiah we are designed to love the Lamb

We are designed to walk in spirit with the Savior hand in  hand

No other love can make you happy no other love can make you glad

No other love can set your heart free from the sin that makes you sad

We are debt free we are debt free we are debt free the slate has been wiped clean

He's redeemed us He's redeemed us He's redeemed us from the bondage of slavery

Substitution substitution substitution His body for my life

Restitution restitution restitution was bought at a dear price

We are designed to love Messiah we are designed to love the Lamb

We are designed to walk in spirit with the Savior hand in hand

No other love can make you happy no other love can make you glad

No other love can set your heart free from the sin that makes you sad

We are debt free we are debt free we are debt free the slate has been wiped clean

He's redeemed us He's redeemed us He's redeemed us from the bondage of slavery