A three-dimensional finite element numerical modeling for the scanning microwave microscopy (SMM) setup is applied to study the full-wave quantification of the local material properties of samples. The modeling takes into account the radiation and scattering losses of the nano-sized probe neglected in previous models based on low-frequency assumptions. The scanning techniques of approach curves and constant height are implemented. In addition, we conclude that the SMM has the potential for use as a broadband dielectric spectroscopy operating at higher frequencies up to THz. The results demonstrate the accuracy of previous models. We draw conclusions in light of the experimental results.