My understanding is that most schools review applications on a rolling basis, so it's not exactly too late to be submitting your application. However, know that the sooner you submit the better. Due to the rolling application process, schools will look at your application multiple times (in theory). Thus, the sooner you have it in, the more times you name should come up.
Keep in mind, that it can take 4 weeks to have your application verified, which only occurs after all your transcripts have been received. As a result, you may end up actually not having your application seen until a month after you technically submit. So, keep the deadlines for the schools you're applying to in mind when considering when to submit your application.
