My Baby's First Loose Tooth!!

I can't believe my son has a loose tooth!  He was sitting snacking on a fried plantain stuffed with cheese when he screamed saying his tooth hurt.  I thought maybe he bit his tongue or maybe the plantain scratched his gums, but no..it was a loose tooth.  I was not expecting for him to have a loose tooth.  I thought it was when he turns 6, slightly frantic I turned to Google - somehow still in denial that my baby is in fact getting older.
One tooth is saying "I got to get out" and the other is responding "Me too."  He drew a little spot on one tooth and said "just like I have a loose tooth and it hurts this tooth has a boo boo and is saying he does too." 
Since he has cousins a year older than him, he has been wanting to lose his tooth since last year so once I told him what was going on - he was excited!  I on the other hand, hugged him and uncontrollably teared up.  He ran to get a piece of paper and "document this amazing moment in his life."

When did your little one lose their first tooth?  I am surprisingly very emotional over this, how did you handle it?  Oh and tips about the tooth fairy will be greatly appreciated.  :)