You can only change ONE letter, AND/OR rearrange the letters currently available. The first word is:
WINS
rats
rate
arty
yard
card
arch
each
mach
amah
math
myth
homy
ahoy
whoa!
hoya
hoax
whoa
Because 'axe' has only 3 letters Jorge!
oath
Welcome, Jorge!
oast
lost
plot
poet
pose
soup!!
(beautiful avatar gesinek...)