Respiratory diseases remain major global health challenges, and traditional auscultation is often limited by subjectivity, environmental noise, and inter-clinician variability. This study presents an explainable multimodal deep learning framework for automatic lung-disease detection using respiratory audio signals. The proposed system integrates two complementary representations: a spectral-temporal encoder based on a CNN-BiLSTM Attention architecture, and a handcrafted acoustic-feature encoder capturing physiologically meaningful descriptors such as MFCCs, spectral centroid, spectral bandwidth, and zero-crossing rate. These branches are combined through late-stage fusion to leverage both data-driven learning and domain-informed acoustic cues. The model is trained and evaluated on the Asthma Detection Dataset Version 2 using rigorous preprocessing, including resampling, normalization, noise filtering, data augmentation, and patient-level stratified partitioning. The study achieved strong generalization with 91.21% accuracy, 0.899 macro F1-score, and 0.9866 macro ROC-AUC, outperforming all ablated variants. An ablation study confirms the importance of temporal modeling, attention mechanisms, and multimodal fusion. The framework incorporates Grad-CAM, Integrated Gradients, and SHAP, generating interpretable spectral, temporal, and feature-level explanations aligned with known acoustic biomarkers to build clinical transparency. The findings demonstrate the framework's potential for telemedicine, point-of-care diagnostics, and real-world respiratory screening.