Co-written by Bart Millard, Barry Graul, and Mike Scheuchzer, the song has lyrical themes revolving around heaven, with the music written around an acoustic guitar riff.

"Finally Home" was written after lead singer Bart Millard heard guitarists Mike Scheuchzer and Barry Graul improvising with an acoustic guitar riff.

[1] Millard was not sure the song would fit on the record, but Brown Bannister (the group's producer) told him "You just made a grown man cry.

[5] "Finally Home" is similar to MercyMe's previous songs "I Can Only Imagine" and "Homesick" in theme,[3][6] with the lyrics revolving around heaven.

[3][4][6] The instrumentation of the song is based around an acoustic guitar riff,[6] and features harmony vocals from lead singer Bart Millard.

Jared Johnson of Allmusic opined in his review of All That Is Within Me that "The album's crowning moment is "Finally Home," a mesmerizing acoustic journey that takes listeners to a place where they are reunited with loved ones".

[4] Russ Breimeier of The Fish commented that "With "Finally Home," we get another heaven song from the same guys responsible for "I Can Only Imagine," "Homesick," and others.

Christian AC has already offered its approval and though thematically it's genre-specific, lead singer Bart Millard's beautiful harmonies accompanying a singalong chorus and country radio's wholesome persona open the doors to acceptance there.

[2] Lauren Summerford of Jesus Freak Hideout was more apathetic about the song, commenting that "The acoustic guitar based "Finally Home" fills the void of the "ballad about getting to heaven" spot we've come to expect from MercyMe".