Psalm 130:3 gives an indication of the immeasurable love that our Father in heaven has for us. No wonder in John 3:16 we read:
For God so loved the world, that he gave his only begotten Son, that whosoever believeth in him should not perish, but have everlasting life.
Also, Psalm 130:3 provides us a deeper understanding of what Jesus told Paul in response to his weakness, as recorded in 2 Corinthians 12:9:
“My grace is sufficient for you, for my power is made perfect in weakness.”
Together with verses 1, 2 and 4, we are also reminded of our Father’s mercy and forgiveness:
1 Out of the depths I cry to you, Lord;
2 Lord, hear my voice.
Let your ears be attentive
to my cry for mercy.
3 If you, Lord, kept a record of sins,
Lord, who could stand?
4 But with you there is forgiveness,
so that we can, with reverence, serve you.
We are saved by our Father’s grace through faith in His son, Christ Jesus, and it is our Father’s mercy and forgiveness that prevent us from receiving deserved punishment, as the author Philip Wijaya wonderfully explained in his article What Is the Difference Between Grace and Mercy?
Mercy is the act of withholding deserved punishment, while grace is the act of endowing unmerited favor. In His mercy, God does not give us punishment we deserve, namely hell; while in His grace, God gives us the gift we do not deserve, namely heaven.
Note that since the Book of Psalms is the 19th book of the Bible, the identifier of Psalm 130:4 is 19+130+4=153. Thus, through the Lord’s Prayer, we acknowledge that with our Father in heaven, there is mercy and forgiveness.