<ARTICLE> 5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE RYLAND
ACCEPTANCE CORPORATION FOUR FORM 10-Q FOR THE PERIOD ENDED 09/30/96 AND IS
QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<MULTIPLIER> 1,000
       
                             
<PERIOD-TYPE>                  9-MOS
<FISCAL-YEAR-END>                          DEC-31-1996
<PERIOD-END>                               SEP-30-1996
<CASH>                                             286
<SECURITIES>                                         0
<RECEIVABLES>                                        0
<ALLOWANCES>                                         0
<INVENTORY>                                          0
<CURRENT-ASSETS>                                     0
<PP&E>                                               0
<DEPRECIATION>                                       0
<TOTAL-ASSETS>                                  344388
<CURRENT-LIABILITIES>                                0
<BONDS>                                         331626
<COMMON>                                            10
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<OTHER-SE>                                        1055 
<TOTAL-LIABILITY-AND-EQUITY>                    344388
<SALES>                                              0
<TOTAL-REVENUES>                                 27926
<CGS>                                                0
<TOTAL-COSTS>                                        0
<OTHER-EXPENSES>                                   227
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                               27699
<INCOME-PRETAX>                                      0
<INCOME-TAX>                                         0
<INCOME-CONTINUING>                                  0
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                         0
<EPS-PRIMARY>                                        0
<EPS-DILUTED>                                        0