You will KNOW when you are ready. Don't do it until you KNOW. You want this to be a special memory that will make you smile when you look back to remember it.
That is awesome that you found a guy willing to wait for you. He must be a great guy!
A lot of guys only try to get girls in bed. It's like their main mission in life. It's good to see that there are still some good guys out there that aren't only looking for sex. Good for you!
I would advise you to go ahead and get put on the pill or something. This way, when you DO decide to lose your virginity, you won't have to worry about getting pregnant. Also, keep some condoms so you can protect yourself against STDs. When you have sex with one person, you are having sex with every person that guy has ever been with. And the people they have been with, and so on.
Teenagers carry STDs and don't even know they have them. Chlamydia, Gonnorhea, and HPV (the virus that causes genital warts) are the most commonly caught STDs among people your age. BE SAFE!!!