Mark O'Brien VA Clothing Allowance Improvement Act This bill modifies the Department of Veterans Affairs (VA) clothing allowance policy for veterans who, due to a service-connected disability, wear a prosthetic, use an orthopedic appliance (e.g., a wheelchair), or use a prescription skin medication that the VA determines causes irreparable damage to clothing. The bill requires the VA to continue the clothing allowance for such a veteran on an annual basis until the veteran elects to no longer receive the allowance, or the VA determines the veteran is no longer eligible for the allowance, whichever occurs first. The bill sets forth a procedure by which the VA must conduct reviews of clothing allowance claims to determine the continued eligibility of veterans. Specifically, the VA must conduct a review (1) five years after the date on which a veteran initially receives a clothing allowance and periodically thereafter, and (2) whenever the VA receives notice that the veteran no longer meets eligibility requirements. If a veteran is eligible for a clothing allowance based on a circumstance that is not subject to change, the VA does not need to review whether the veteran has continued eligibility. If the VA determines, as the result of a review of a claim, that a veteran no longer meets the eligibility requirements for a clothing allowance, the VA must provide notice of the determination and discontinue the clothing allowance. The notice must include a description of applicable actions that may be taken following the determination (e.g., filing a notice of disagreement). The bill also extends certain loan fee rates through January 15, 2031, under the VA's home loan program.