Microwave and millimeter-wave measurements acquire total-field responses from measurements, yet imaging algorithms instead require the data in the form of scattered-field responses. Two approaches exist for the extraction of the scattered-field data from the total-field responses, namely, the Born and the Rytov data approximations. It is well known that, depending on the target’s size, contrast, and structural complexity, one approximation can achieve an improved accuracy over the other. Yet, the Rytov approximation is rarely used in microwave and millimeter-wave imaging, likely due to phase-unwrapping problems occurring in the case of strongly heterogeneous electrically large targets. Here, we propose a method to utilize the Born and the Rytov approximations simultaneously in a single inversion step for real-time imaging with quantitative microwave holography (QMH). We show through examples with simulated and experimental data that in near-field imaging scenarios, including the imaging of a breast-tissue phantom, there are significant benefits in employing the new method.