To be honest, I would maybe wait just a little longer and see how he goes. I have 3 children, my eldest daughter was literally (i am not kidding) saying words at 9 months old, and she hasn't stopped talking since
My son who is now 5 and speaks wonderfully, basically only said about 2 words when he turned 3, I remember after his birthday asking about getting him referred. In the months after his 3rd birthday he gradually started saying more and more, so we didn't worry about intervention. I was told that boys are slower to develop language skills than girls and because he had a very chatty, smart sister who spoke for him, he basically couldn't be bothered!!
Now my youngest daughter is turning 3 next week, and she talks in sentences, we can understand her, although she substitutes words like "floor" she will say "sore" "track" she will say "sack" but that is normal for kids to substitute sounds. I can understand how you feel, he sounds exactly like my son, but maybe give it a couple more months and then see how he is going. You are probably already reading to him, so that is a good thing to try, we have some great basic picture books that have so many clear photos of everything, and we used to read them, point to the pic of the house, car etc and get them to say it too. I hope I have helped, good luck.