help with psp modification

I am considering purchasing a psp within 2 months. I most likley will buy it new at best buy. I need to know if I will be able to mod it for homebrew and exactly how please. I need it written in simple terms because I just started to reaserch psp homebrew mods and need to know if I can get a new psp to work with homebrew. I have quite a bit of experience in ds modification but not psp. PLEASE HELP!

Also it would be nice if you could post links for what I need and possibly where i can find a good homebrew site.
Thanks