diff --git a/src/node/psbt.cpp b/src/node/psbt.cpp
--- a/src/node/psbt.cpp
+++ b/src/node/psbt.cpp
@@ -17,9 +17,7 @@
     PSBTAnalysis result;
 
     bool calc_fee = true;
-    bool all_final = true;
-    bool only_missing_sigs = true;
-    bool only_missing_final = false;
+
     Amount in_amt{Amount::zero()};
 
     result.inputs.resize(psbtx.tx->vin.size());
@@ -28,6 +26,9 @@
         PSBTInput &input = psbtx.inputs[i];
         PSBTInputAnalysis &input_analysis = result.inputs[i];
 
+        // We set next role here and ratchet backwards as required
+        input_analysis.next = PSBTRole::EXTRACTOR;
+
         // Check for a UTXO
         CTxOut utxo;
         if (psbtx.GetInputUTXO(utxo, i)) {
@@ -54,7 +55,6 @@
         // Check if it is final
         if (!utxo.IsNull() && !PSBTInputSigned(input)) {
             input_analysis.is_final = false;
-            all_final = false;
 
             // Figure out what is missing
             SignatureData outdata;
@@ -75,11 +75,9 @@
                     !outdata.missing_sigs.empty()) {
                     input_analysis.next = PSBTRole::SIGNER;
                 } else {
-                    only_missing_sigs = false;
                     input_analysis.next = PSBTRole::UPDATER;
                 }
             } else {
-                only_missing_final = true;
                 input_analysis.next = PSBTRole::FINALIZER;
             }
         } else if (!utxo.IsNull()) {
@@ -87,10 +85,14 @@
         }
     }
 
-    if (all_final) {
-        only_missing_sigs = false;
-        result.next = PSBTRole::EXTRACTOR;
+    // Calculate next role for PSBT by grabbing "minumum" PSBTInput next role
+    result.next = PSBTRole::EXTRACTOR;
+    for (unsigned int i = 0; i < psbtx.tx->vin.size(); ++i) {
+        PSBTInputAnalysis &input_analysis = result.inputs[i];
+        result.next = std::min(result.next, input_analysis.next);
     }
+    assert(result.next > PSBTRole::CREATOR);
+
     if (calc_fee) {
         // Get the output amount
         Amount out_amt =
@@ -142,18 +144,6 @@
             CFeeRate feerate(fee, size);
             result.estimated_feerate = feerate;
         }
-
-        if (only_missing_sigs) {
-            result.next = PSBTRole::SIGNER;
-        } else if (only_missing_final) {
-            result.next = PSBTRole::FINALIZER;
-        } else if (all_final) {
-            result.next = PSBTRole::EXTRACTOR;
-        } else {
-            result.next = PSBTRole::UPDATER;
-        }
-    } else {
-        result.next = PSBTRole::UPDATER;
     }
 
     return result;
diff --git a/test/functional/rpc_psbt.py b/test/functional/rpc_psbt.py
--- a/test/functional/rpc_psbt.py
+++ b/test/functional/rpc_psbt.py
@@ -435,6 +435,10 @@
         assert_equal(
             analysis['error'],
             'PSBT is not valid. Input 0 has invalid value')
+        #
+        # self.log.info("PSBT with signed, but not finalized, inputs should have Finalizer as next")
+        # analysis = self.nodes[0].analyzepsbt('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')
+        # assert_equal(analysis['next'], 'finalizer')
 
         analysis = self.nodes[0].analyzepsbt(
             'cHNidP8BAHECAAAAAfA00BFgAm6tp86RowwH6BMImQNL5zXUcTT97XoLGz0BAAAAAAD/////AgCAgWrj0AcAFgAUKNw0x8HRctAgmvoevm4u1SbN7XL87QKVAAAAABYAFPck4gF7iL4NL4wtfRAKgQbghiTUAAAAAAABAB8A8gUqAQAAABYAFJUDtxf2PHo641HEOBOAIvFMNTr2AAAA')