Filed Pursuant to Rule 424(b)(2)
                                                         SEC File Nos. 33-50705
                                                                      333-22859

                              PROSPECTUS SUPPLEMENT
          (To Prospectus and Prospectus Supplement Dated March 6, 1997)

                                  25,000 Shares

                                                                     
                         RESOURCE MORTGAGE CAPITAL, INC.

                             SHARES OF COMMON STOCK
                                (Par Value $0.01)


         Pursuant  to a Sales  Agency  Agreement  dated as of March 6, 1997 (the
"Sales  Agency  Agreement")   between  Resource  Mortgage  Capital,   Inc.  (the
"Company") and  PaineWebber  Incorporated  ("PaineWebber"),  a form of which has
been filed as an exhibit to the  Registration  Statement of which the Prospectus
Supplement is a part and which is incorporated by reference herein,  the Company
has sold,  through  PaineWebber,  as agent of the Company,  25,000 shares of the
Company's common stock, par value $0.01 per share (the "Common Stock"), pursuant
to ordinary brokers' transactions on the New York Stock Exchange (the "NYSE").



         Shares sold during Pricing Period

                                                
                   9,200   Average Market Price Shares
                  15,800   Additional Shares
                  ------
                  25,000   Total Shares Sold



        
         Arithmetic Mean of the High and Low Sales Prices of the Shares reported
                 on the NYSE (the  "Average  Market  Price") for each day of the
                 Pricing  period: 
                                                                            
   03/10/97        03/11/97        03/12/97       03/13/97       03/14/97      Average for Pricing Period
   --------        --------        --------       --------       --------      --------------------------
    $31.125        $31.1875        $31.0625        $0.0000       $30.9375               $31.0781
       
 

     High and Low Sales  Prices at which  Average  Market  Shares  were sold
during pricing period:
 
                                                                            
                      High: $31.375                                          Low: $30.875
   


 
Average Market Price Shares:
                                                                                                      

Gross Proceeds to Company...............$  285,918.75             Gross Sales Proceeds....................$  286,637.5
3% Discount.............................$    8,577.56             Compensation to Agent...................$   9,296.31
                                        -------------                                                     ------------
Net Proceeds to Company.................$  277,341.19             Net Proceeds to Company.................$ 277,341.19

Additional Shares Sold:

Gross Proceeds to Company...............$  491,412.50
Commission to PaineWebber...............$   14,742.38
                                        -------------
Net Proceeds to Company.................$  476,670.12

Total Net Proceeds to Company...........$  754,011.31             Total Compensation to Agent.............$  24,038.69


On the last day of the Pricing Period, the last reported sales price of the
Stock on the NYSE was $31.125 

Note:....S.E.C.  fees were not used in arriving at any of the above figures.


     THESE  SECURITIES  HAVE NOT BEEN APPROVED OR  DISAPPROVED BY THE SECURITIES
AND  EXCHANGE  COMMISSION  OR  ANY  STATE  SECURITIES  COMMISSION  NOR  HAS  THE
SECURITIES AND EXCHANGE  COMMISSION OR ANY STATE  SECURITIES  COMMISSION  PASSED
UPON THE  ACCURACY OF THIS  PROSPECTUS  SUPPLEMENT.  ANY  REPRESENTATION  TO THE
CONTRARY IS A CRIMINAL OFFENSE.
                                         
            The date of this Prospectus Supplement is March 18, 1997.