front page, catgeory posts

Hello everyone!

I was wondering how I may have the latest post on my home page (how I currently have it)and below that, a thumbnail size pic and snippet of the latest post from each category.

If you take a look at my site (www.thesnobmag.com) I like the latest post how it is.

All I want to do is to have everything that follows below it to be a smaller version of the same thing, but one for each category.

Any help would be much appreciated. Thanks!