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.
vault vaulty valet fault valuta faulty volt valuate vallate volta volti valid volte fauld vealed violet valued fealty flauta velate vailed vialed volute violate fallout veloute vialled velleity felt flat flit veld
vault fault sault gault alt fealty malt halt moult cauld poult valet culet faulty salty vaulty zealot chalet shalt guilt dealt culti cult alto auld fauld lealty quilt malty built flauta rialto realty alit salt palet chalot yauld
vail vale valley value veal vealy vial oval ovally ovule uvula uvulae