I've taken a list of English words, and examined each of them to see what they sound like (using the PHP metaphone function). This page lists the most common metaphone codes, along with their words. You can also search for a word of your own, and see which words sound similar - and which ones rhyme, and which ones alliterate.
ballutes ballots ballets bailouts ballades bluets blites balatas billets bullets ballads boletes baldies belts blats balds blets bolts blots blighties bleeds bleats bloats blades bolides belauds blights boletus beladies bloodies bulldoze blitz bolds bields bloods builds
ballutes flutes glutes pollutes volutes dilutes salutes lutes solutes elutes rollouts flites flouts bluets phyllites voltes salties velites valutas relates illites solates deludes eludes elites gallates clouts sellouts shelties chelates tillites quaaludes deletes dealates elates dilates eluates louts boletes bailouts illudes flytes fealties halites kilties collates gluts violates fellates realties iolites blites pelites valuates lealties gelates gluteus fluyts veloutes glouts slates ludes colludes fallouts alates alludes pullouts sluts mullites palates plates oolites folates zeolites delates pluteus malates toluates cholates hyalites
ballute ballad ballade balled ballet ballot