help understanding a cash-out refi

[Patrick Everett]

hello I want to get a better understanding of how a cash-out refi works. if I have a property that is paid in full and I paid $100k in cash for it this year, if I were to do a cash-out refi on this property for 75% and get $75k back....when does this $75k have to be repaid back to the bank? what is the usual interest rate on a cash-out refi? how soon after I initial closed on the property for $100k can I do a cash-out refi? thanks Patrick