re: Help needed, I recently got turned down on a refinance loan for my home

It's because with that notation and the lack of quality comps, the bank feels it won't be able to sell the loan and since banks won't hold mortgages, they won't go through with closing - pretty standard. Try to work with the appraiser to tighten this up, if he won't budge it'll be hard to get a traditional underwriter to sign off on this deal.