Hi, I am another that had a child at 16, he is 15 now and a lovely boy!
My mum was with me when I found out, she was so understanding, it was my dad that took it the hardest, and all through my pregnancy it was tough between us.
As soon as Ds was born he came around, and they have always been really close.
Your parents will be upset, but it will be more the fact that they are upset FOR you, not by what you have done.
You need to tell them as soon as poss, and decide what is going to happen.
If you decide to continue with the pregnancy, there is lots of help out there for young mums, and with a good support network it doesn't have to stop you doing anything.
Your BF sounds great, people always forget how scared they must be too.
Good luck with everything, let us know how you get onxxxx