diff --git a/src/node/psbt.cpp b/src/node/psbt.cpp
index 31aa293474..438370bbbc 100644
--- a/src/node/psbt.cpp
+++ b/src/node/psbt.cpp
@@ -18,9 +18,6 @@ PSBTAnalysis AnalyzePSBT(PartiallySignedTransaction psbtx)
     PSBTAnalysis result;
 
     bool calc_fee = true;
-    bool all_final = true;
-    bool only_missing_sigs = true;
-    bool only_missing_final = false;
     CAmountMap in_amts;
 
     result.inputs.resize(psbtx.tx->vin.size());
@@ -29,6 +26,9 @@ PSBTAnalysis AnalyzePSBT(PartiallySignedTransaction psbtx)
         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)) {
@@ -58,7 +58,6 @@ PSBTAnalysis AnalyzePSBT(PartiallySignedTransaction psbtx)
         // 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 +74,9 @@ PSBTAnalysis AnalyzePSBT(PartiallySignedTransaction psbtx)
                 if (outdata.missing_pubkeys.empty() && outdata.missing_redeem_script.IsNull() && outdata.missing_witness_script.IsNull() && !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 +84,14 @@ PSBTAnalysis AnalyzePSBT(PartiallySignedTransaction psbtx)
         }
     }
 
-    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
         CAmountMap out_amts = std::accumulate(psbtx.tx->vout.begin(), psbtx.tx->vout.end(), CAmountMap(),
@@ -146,17 +147,6 @@ PSBTAnalysis AnalyzePSBT(PartiallySignedTransaction psbtx)
             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
index 2b2ec5367f..5a8cb7a112 100755
--- a/test/functional/rpc_psbt.py
+++ b/test/functional/rpc_psbt.py
@@ -684,6 +684,10 @@ class PSBTTest(BitcoinTestFramework):
         assert_equal(analysis['next'], 'creator')
         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('cHNldP8BALgCAAAAAAHwNNARYAJurafOkaMMB+gTCJkDS+c11HE0/e16Cxs9AQAAAAAA/////wIBAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAABAAfQ42qBgAAAFgAUKNw0x8HRctAgmvoevm4u1SbN7XIBAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAABAAAAAJUC7fwAFgAU9yTiAXuIvg0vjC19EAqBBuCGJNQAAAAAAAEBQgEAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAEAAAABKgXyAAAWABSVA7cX9jx6OuNRxDgTgCLxTDU69gAAAA==')
         assert_equal(analysis['next'], 'creator')
         assert_equal(analysis['error'], 'PSBT is not valid. Output amount invalid')