No dude, it should be fine..
I am also waiting for my offer letter from Concordia, it will come this month. Then I will be needing 1 more month to put some more money in the bank and finally applying in 1st week of May.
See this is the catch: You need to give them at least 2 months before your course starts. Since it will start in September, so give them July and August.
So if you can apply by June, it should be okay..
Good luck bro.