If you apply before the deadline, then I wouldn't consider it late.
Depending on the university and department, they might not review applications until after the deadline or they might review them as they come. So long as you make that deadline though, it should be fine! You may find thisthis question helpful regarding the benefits of applying early.
I would certainly encourage you to apply now if you can. On a side note, I applied after my university's deadline and was still admitted but don't do that :)